ProShares has submitted a request to register five new Bitcoin ETFs

by Max Nevskyi

2 years ago

ProShares has submitted a request to the U.S. Securities and Exchange Commission (SEC) for the registration of five new Bitcoin ETFs. Among them, there are both leveraged and reverse funds.

The list is as follows:

ProShares Plus Bitcoin ETF - A fund tracking the Bloomberg Galaxy Bitcoin Index with a leverage of 1.5x.
ProShares Ultra Bitcoin ETF - A similar product with some differences in terms and a leverage of 2x.
ProShares UltraShort Bitcoin ETF - A reverse fund tracking the Bloomberg Galaxy Bitcoin Index with a leverage of 2x.
ProShares ShortPlus Bitcoin ETF - A reverse fund based on the same index but with a leverage of 1.5x.
ProShares Short Bitcoin ETF - A reverse fund without leverage.

It's important to note that none of these products directly invest in Bitcoin.

A reverse ETF changes its value in proportion to the price of the underlying asset. On the other hand, leveraged ETFs are structured to increase daily returns through borrowed funds without the risk of position liquidation.

Previously, ProShares also launched a reverse exchange-traded fund based on Ethereum and manages one of the oldest and largest Bitcoin futures ETFs, BITO, with assets exceeding $2 billion.

Rewards

More rewards

Discover enhanced rewards on our social media.

Other news

CharuSan Predicts XRP Rally to 300 Post-CLARITY Act

Market expert CharuSan outlines a roadmap for XRP to reach 300, driven by increased utility from the CLARITY Act.

Rajesh Kumaran hour ago

CharuSan Explains Need for Higher XRP Price for Global Transactions

CharuSan explains the necessity of a higher XRP price to accommodate global transaction volumes, highlighting the limitations of token velocity and liquidity depth.

Gustavo Mendozaan hour ago

XRP Ledger Community Divided Over v313 Upgrade and Hard Fork Concerns

The XRP Ledger community is divided over the v313 upgrade, with concerns about potential hard forks and the necessity for nodes to update to maintain network communication.

Miguel Rodriguez3 hours ago

ONDO Achieves Major Milestone with $1 Billion in Total Value Locked

ONDO Global Markets has surpassed $1 billion in total value locked within just eight months of its launch, establishing itself as a leader in the tokenized equity market.

Luis Flores6 hours ago

SEC's New Framework Could Revolutionize Tokenized Stocks

The US SEC is reportedly preparing a framework that could allow tokenized versions of stocks to trade on crypto platforms, potentially reshaping the stock market.