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

XRP Ledger Development Continues Amid Regulatory Scrutiny

The latest release of the XRP Ledger highlights ongoing development and improvements in the protocol, emphasizing the importance of functionality beyond regulatory headlines.

Li Weicheng4 hours ago

Uniswap Introduces New Editorial Standards

Uniswap has recently implemented a strict editorial policy that focuses on accuracy, relevance, and impartiality to enhance the quality of information on its platform.

Mohamed Farouk4 hours ago

Stripe Reinforces Its Editorial Standards

Stripe has announced a strict editorial policy that focuses on accuracy, relevance, and impartiality in its reporting.

Aisha Farooq4 hours ago

Coinbase Adds Wormhole Token to Its Platform

Coinbase has added the Wormhole token to its platform, highlighting the importance of crosschain connectivity in the crypto market.

Tenzin Dorje4 hours ago

Bitcoin Staking Sparks Market Debate

The introduction of Bitcoin staking has divided opinions in the market, with some viewing it as a productive evolution while others see it as unnecessary complexity.