IQ
BETE
ProShares Bitcoin & Ether Equal Weight ETF
Category CryptoIssuer ProSharesNet assets $7.2mFee 0.95%

BETE bid-ask spread and liquidity

See what BETE costs to trade and how closely it tracks its value.

·
Not scored

IQ Liquidity Score

· 2 of 6 measured · Nov 12, 2026
$11
one way, a $10,000 order
0.00%
latest close, Nov 12
±0.10%
95% of days within
0 · Hard to trade100 · Trades like a giant

How easily this fund trades, from 0 to 100 on the same anchors for every fund; 100 is best. Method →

Cost to trade
0.22% median spread, 30 days to Nov 6, 2026
47.9
Capacity
Not measured · a spot crypto fund: no volume source here yet
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Price fidelity
Not measured · 8 days of closing premium are held, under the 20 needed
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Primary market
2 active dealers of 39; largest 63% of creations and redemptions, N-CEN to May 31, 2026
45.0
Bad-day behaviour
Not measured · 1 of the 10 worst days and 7 other days are held, under the 5 and 60 needed
·
Depth
Not measured · needs trade and quote data
·

Capacity: what its holdings can absorb in a day. Price fidelity: how close its price stays to NAV, the value of what it holds. Primary market: the dealers who create and redeem its shares. Bad-day behaviour: its premium on the market’s worst days. Depth: the dollars quoted at the bid and the ask. How to read the score →

BETE is not scored: its spread is not read, so it has no point on this chart. 11 scored Crypto ETFs are plotted for comparison, Nov 12, 2026.

Spread against score

BETE among Crypto ETFs

Cheaper to trade sits left, easier to trade sits up.

11 scored
Hard to tradeThinLiquid with careLiquidTrades like a giantNov 12, 2026

What a trade costs

One way, half its 30-day median spread; sizes above $10,000 are estimates
BETE: cost for your order at each size, one way
OrderDollarsPercentBasis
$1,000$1.100.11%spread
$10,000$110.11%spread
Spread 0.22%, the median over the 30 days to Nov 6, 2026. A round trip costs twice this. Above $10,000 it adds an estimate of price impact.
Premium or discount to valueDaily, 8 days to Nov 12, 2026 · the ±1% band marked

Above zero: a premium. Below: a discount.

BETE premium or discount to NAV, 8 days+1%0−1%Nov 3, 2026Nov 12, 2026
Latest close, Nov 12
0.00%
95% of days within
±0.10%
Days more than 1% from NAV
0 of 8
Widest
−0.10%, Nov 4, 2026
CapacityWhat the holdings can absorb a day

Not measured: a spot crypto fund: no volume source here yet.

Who makes the market

Authorized participants · N-CEN, the year to May 31, 2026
Active dealers
2
of 39 authorized
Largest
63%
of creations and redemptions
One dealer
No
2 active

2 of 39 authorized participants created or redeemed BETE shares in the year to May 31, 2026. From the fund’s Form N-CEN, filed Aug 14, 2026.

APs create and redeem shares. Every AP →

Active APs, largest first, by share of dollars created and redeemed: Jane Street Capital, LLC (63.1%), Merrill Lynch, Pierce, Fenner and Smith Incorporated (36.9%). 37 more were listed and created or redeemed nothing.

What retail orders paid

One way on $10,000, Sep 2026
All wholesalers read
$1.17
Fidelity customers
$2.13
Schwab customers
$3.11

In Sep 2026, retail market orders in BETE paid $1.17 one way on $10,000, against $12 at the quote.

93% of shares filled better than the quote.

Aug 2025Grey: old format, orders of 100 to 9,999 sharesSep 2026

Where it trades

Q2 2026, 62 trading days
Off exchange
74%
Odd lots, of exchange volume
15.3%

In Q2 2026, 74% of BETE’s shares traded off exchange on the median day.

Off exchange means wholesalers and dark pools. Odd lots are orders under 100 shares, a sign of retail trading.

How to place the order

To buy or to sell, up to $100,000
Order type
Limit: midpoint + 4¢ to buy, midpoint − 4¢ to sell.At the Nov 12 close of $32.77, that’s $32.81 to buy and $32.73 to sell.
When
ETF spreads are usually widest in the first minutes after the open and the last before the close.
Watch
The premium to NAV, charted above: a buyer pays more, and a seller gets less, when it is wide.
Why low volume does not mean illiquid →Limit orders vs market orders for ETFs →
Not measured yet: these need trade data
Spread through the day

Median spread by half hour, 30 days.

Buyers against sellers

Volume bought at the ask against volume sold at the bid.

Retail flow, estimated

Trades priced in fractions of a cent, a sign of retail orders.

Large trades

Trades above $500k: how many, and their share of volume.

Closing auction

Share of the day’s volume at the close.

Questions people ask

What is BETE’s bid-ask spread?

0.22% of the midpoint, the median over the 30 days to Nov 6, 2026, as its issuer states it. Half of it is about 4¢ a share at the Nov 12 close.

Does BETE trade at a premium or discount to NAV?

It closed 0.00% from its NAV on Nov 12, 2026. On 95% of the 8 days to then it was within ±0.10%, and it closed more than 1% from NAV on 0 of them.

Who is the AP for BETE?

BETE’s latest Form N-CEN, for the period ending May 31, 2026, lists 39 authorized participants (APs), and 2 created or redeemed shares. The largest were Jane Street Capital, LLC (63.1%), Merrill Lynch, Pierce, Fenner and Smith Incorporated (36.9%) of the dollars its APs created and redeemed.

Who is the LMM for BETE?

BETE’s lead market maker (LMM) on NYSE Arca is Jane Street Capital, LLC. Lead market maker per NYSE Arca, as of Nov 9, 2026.

What does it cost to trade $10,000 of BETE?

About $11 one way, 0.11%: half its 30-day median spread. In and out costs twice that.

How do I place a limit order for BETE?

Set the limit at the midpoint + 4¢ to buy, or the midpoint − 4¢ to sell, in your broker’s quote. At the Nov 12 close of $32.77, that’s $32.81 to buy and $32.73 to sell.
Where to next
ETF trading costs and liquidity→Cost-to-trade checker→Why low volume does not mean illiquidguide →Limit orders vs market orders for ETFsguide →How the IQ Liquidity Score is builtmethod →BETE fund page→
Sources and dates
SpreadProShares (fund page), 30-day median · to Nov 6, 2026
Premium to NAVETFIQ, close against the issuer’s NAV · Nov 3, 2026 to Nov 12, 2026
DealersForm N-CEN · the year to May 31, 2026
Retail ordersSEC Rule 605 reports · Sep 2026
Where it tradesSEC MIDAS · Q2 2026

The score measures trading conditions, not the fund. ETFIQ makes no recommendations.

Cite this pageCitation, APA and Markdown

ETFIQ, BETE trading: cost, capacity, premium and dealers, data as of Nov 12, 2026. https://etfiq.com/funds/bete/trading/

Open data →

The score measures trading conditions, not the fund. ETFIQ makes no recommendations.