ProShares Bitcoin & Ether Market Cap Weight ETF is an exchange-traded fund that provides targeted exposure to the market cap weighted performance of bitcoin and ether through a single investment vehicle. Launched in 2023, it actively manages a portfolio primarily consisting of front-month futures contracts on these cryptocurrencies traded on the CME, with bitcoin futures typically comprising the majority allocation around 86% and ether futures the remainder. The fund does not invest directly in spot bitcoin or ether but uses derivatives via a wholly-owned Cayman Islands subsidiary to replicate their performance weighted by market capitalization. It pays monthly distributions derived from futures premiums, distinguishing it from spot crypto products that focus solely on price returns. ProShares Bitcoin & Ether Market Cap Weight ETF serves investors seeking convenient access to the combined dynamics of the two leading cryptocurrencies within traditional brokerage accounts, playing a role in the growing segment of commodity and digital asset ETFs.