ProShares Files for Bitcoin ETF Combining S&P 500 and Gold Strategies

ProShares Files for Bitcoin ETF Combining S&P 500 and Gold Strategies

user avatar

by Giorgi Kostiuk

2 years ago

ProShares has filed an application to launch a new set of Bitcoin-targeted ETFs, which will track the S&P 500, Nasdaq 100, and gold.

What’s New with ProShares Bitcoin ETF?

These new ETFs from ProShares aim to provide exposure to Bitcoin using a unique investment strategy: combining long positions in stocks or gold with a parallel short of the U.S. dollar and long positions in Bitcoin using Bitcoin futures. They will track well-known indexes such as the S&P 500, Nasdaq 100, and gold.

The Success of the Bitcoin ETF Market

Launched in January, 11 Bitcoin-based ETFs have mobilized over $36 billion in investor capital. These funds enable investors to gain indirect ownership of Bitcoin without physical acquisition.

Impact of Political Changes

Political changes, particularly the digital asset endorsement by the U.S. elected president, have significantly impacted the Bitcoin market. This has led to optimism and pushed the price of Bitcoin above $100,000.

The launch of new ETFs by ProShares showcases the ongoing interest in combining traditional financial strategies with digital assets, reflecting trends in cryptocurrency market development.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Ledger Halts Sales Amid Fund Loss Investigations

Ledger has paused sales and shipments of its hardware wallets after reports of fund losses from customers in Southeast Asia who purchased devices from CryptoBilis.

user avatarJesper Sørensen

Project Eleven and Quantus Collaborate on Strongpoint for Future Crypto Custody

Project Eleven has partnered with Quantus to enhance crypto custody solutions through the integration of the Quantus Network into Strongpoint, targeting support for post-quantum cryptography by Q1 2027.

user avatarRajesh Kumar

Sui and Alibaba Cloud Collaborate on AI Agent Payment Integration

Sui and Alibaba Cloud are developing a payment model for AI agents to autonomously pay for cloud services using stablecoins.

user avatarLucas Weissmann

Moscow Exchange to Launch Cryptocurrency Trading on December 1

Moscow Exchange is set to begin offering cryptocurrency trading on December 1, 2023, following a new regulatory framework in Russia.

user avatarFilippo Romano

OSL Group Launches Tokenized USDGO Plus SP Fund

OSL Group has successfully tokenized the USDGO Plus SP fund, providing custody and distribution through its licensed platform in Hong Kong.

user avatarEmily Carter

PowerCompute Increases Bitcoin Production While Reducing Debt

PowerCompute mined 81 BTC in September 2023, a 37 BTC increase from last year, while reducing its secured debt from $237 million to $125 million.

user avatarKaterina Papadopoulou

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.