ProShares has submitted a request to register five new Bitcoin ETFs

by Max Nevskyi

3 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

Optimism Addresses Critical Vulnerability Before Production Exploitation

Optimism disclosed a critical vulnerability in its preLagoon refund path, which was patched before exploitation on production chains.

Mohamed Faroukan hour ago

Dev3pack Program Reports Significant Developer Engagement

The final report from the Dev3pack program highlights significant developer engagement and training outcomes.

Elias Mukuru2 hours ago

Robinhood CEO's Account Hacked to Promote Fake Memecoin

The X account of Robinhood CEO Vlad Tenev was hacked to promote a fraudulent memecoin, highlighting vulnerabilities in crypto security.

Diego Alvarez9 hours ago

Kraken Launches CFTC-Regulated Perpetual Futures for US Traders

Kraken has launched CFTC-regulated perpetual futures for eligible US traders, providing access to a previously unavailable product in the US market.

Kenji Takahashi11 hours ago

Elliptic Report Uncovers Bitcoin ATM Scam Tactics

Elliptic has published a report detailing how Bitcoin ATM scams work, focusing on the tactics used by fraudsters to exploit victims, especially the elderly.