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    <isConfidential>false</isConfidential>
    <filerInfo>

      <filer>
        <issuerCredentials>
          <cik>0001039803</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>

      <seriesClassInfo>
        <seriesId>S000076603</seriesId>
        <classId>C000236592</classId>
      </seriesClassInfo>


    </filerInfo>
  </headerData>
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      <regFileNumber>811-08239</regFileNumber>
      <regCik>0001039803</regCik>
      <regLei>549300HM4OOUYSE5DP77</regLei>
      <regStreet1>7272 Wisconsin Avenue</regStreet1>
      <regStreet2>21st Floor</regStreet2>
      <regCity>Bethesda</regCity>
      <regStateConditional regCountry="US" regState="US-MD"/>
      <regZipOrPostalCode>20814</regZipOrPostalCode>
      <regPhone>240-497-6400</regPhone>
      <seriesName>SHORT BITCOIN PROFUND</seriesName>
      <seriesId>S000076603</seriesId>
      <seriesLei>549300Q4O1ES2NJZZY86</seriesLei>
      <repPdEnd>2025-07-31</repPdEnd>
      <repPdDate>2025-04-30</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
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      <totLiabs>240118.65</totLiabs>
      <netAssets>415483.84</netAssets>
      <assetsAttrMiscSec>0.00000000</assetsAttrMiscSec>
      <assetsInvested>0.00000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.00000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.00000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.00000000</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0.00000000</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0.00000000</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0.00000000</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0.00000000</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0.00000000</amtPayAftOneYrOther>
      <delayDeliv>0.00000000</delayDeliv>
      <standByCommit>0.00000000</standByCommit>
      <liquidPref>0.00000000</liquidPref>
      <cshNotRptdInCorD>361760.33</cshNotRptdInCorD>
      <curMetrics>
        <curMetric>
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      </curMetrics>
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      <creditSprdRiskNonInvstGrade period10Yr="0.00000000" period1Yr="0.00000000" period30Yr="0.00000000" period3Mon="0.00000000" period5Yr="0.00000000"/>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
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        </monthlyTotReturns>
        <monthlyReturnCats>
          <foreignExchgContracts>
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            <futureCategory>
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      <mon3Flow redemption="4023689.84000000" reinvestment="0.00000000" sales="3959422.49000000"/>

      <varInfo>

        <fundsDesignatedInfo>
          <nameDesignatedIndex>Bloomberg Galaxy Bitcoin Index</nameDesignatedIndex>
          <indexIdentifier>BTC</indexIdentifier>

        </fundsDesignatedInfo>

      </varInfo>
    </fundInfo>
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      <invstOrSec>
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        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
        <title>CME Micro Bitcoin Future </title>
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        <identifiers>
          <ticker value="BMRK5 CURNCY"/>
        </identifiers>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2606.00000000</valUSD>
        <pctVal>0.627220543643</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MAREX CAPITAL MARKETS, INC.</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <counterparties>
              <counterpartyName>CHICAGO MERCANTILE EXCHANGE INC</counterpartyName>
              <counterpartyLei>SNZ2OJLFK8MNNCLQOF39</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>CME Micro Bitcoin Future</issueTitle>
                <identifiers>
                  <ticker value="N/A"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2025-06-02</expDate>
            <notionalAmt>-189390.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>2606.00000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Dummy ID" value="UMR250501"/>
        </identifiers>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-239606.00000000</valUSD>
        <pctVal>-57.6691502610</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
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              <counterpartyInfo lei="549300MGEH3N3CUCV828" name="UMB FINANCIAL CORP."/>
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          <isTriParty>Y</isTriParty>
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          <maturityDt>2025-05-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
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              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United States Treasury Bills</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <identifiers>
          <isin value="US912797LB15"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>None</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
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        <identifiers>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
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          <isTriParty>Y</isTriParty>
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          <maturityDt>2025-05-01</maturityDt>
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              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-04-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Short Bitcoin ProFund</ncom:nameOfApplicant>
      <ncom:signature>Rebecca Colvin </ncom:signature>
      <ncom:signerName>Rebecca Colvin </ncom:signerName>
      <ncom:title>Treasurer and Principal Financial Officer </ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
