Blockchain
ProShares files for 5 Bitcoin ETFs with indirect exposure
ProShares, a major issuer of exchange-traded funds (ETFs) in the United States, is working to launch several Bitcoin
BTC tickers down ETFs with indirect BTC exposure amid the first days of spot Bitcoin ETF trading on local stock exchanges.
According to a Jan. 16 filing with the U.S. Securities and Exchange Commission (SEC), ProShares wants to launch leveraged and inverse Bitcoin ETFs. The ETFs seek daily investment results from Bitcoin price increases and decreases based on the daily performance of the Bloomberg Galaxy Bitcoin Index (BGCI).
ProShares’ prospectuses specifically propose to launch five new Bitcoin ETFs, including Plus Bitcoin ETF, Ultra Bitcoin ETF, UltraShort Bitcoin ETF, Short Bitcoin ETF and ShortPlus Bitcoin ETF.
The other three funds, ProShares UltraShort Bitcoin ETF, ProShares Short Bitcoin ETF and ProShares ShortPlus Bitcoin ETF, seek daily investment results based on the inverse of the daily performance of the BGCI of -2x, -1x and -1.5x, respectively. The funds do not directly short Bitcoin, ProShares stressed in the filing, adding that it seeks to benefit from decreases in the price of Bitcoin.
At the time of filing, Bitcoin was trading at around $43,000, seeing a significant decline following the launch of spot Bitcoin ETFs in the United States. Some industry investors like ARK Invest CEO Cathie Wood previously predicted that the market is likely to face a short-term sell-off due to some investors looking to cash out amid positive news.
The filling comes a few days after the U.S. SEC approved the first 10 spot Bitcoin ETFs on Jan. 10, with the first trades debuting on Jan. 11. ProShares was not one of the issuers behind the first wave of spot Bitcoin ETFs, though.
Related: Estimated $1.1B flees GBTC in 3 days as ARK begins buying own Bitcoin ETF
ProShares firm has been focused on futures-based crypto ETFs, launching one of the first Bitcoin futures-linked ETFs in the U.S. in October 2021. Its flagship BTC futures-based product, Bitcoin Strategy ETF (BITO), has seen significant growth over the past few months, briefly reaching $2 billion in assets under management (AUM) for the first time in January 2024.
Apart from BITO, ProShares also currently offers the Ether Strategy ETF, Bitcoin & Ether Market Cap Weight Strategy ETF and the Bitcoin & Ether Equal Weight Strategy ETF.
Source: Cointelegraph
The post ProShares files for 5 Bitcoin ETFs with indirect exposure appeared first on Hipther Alerts.
Blockchain
Good Game Reality Show Reimagines Global Gaming Stardom with Tokenized Memberships and Real-Life Lounges
Blockchain
Smart Card Market to Worth USD 22.55 Billion by 2032, Driven by Increasing Demand for Secure and Contactless Payment Solutions | SNS Insider
Blockchain
RWA Inc. Appoints Fintech Executive and Entrepreneur Shaunt Sarkissian to Its Board of Directors
Shaunt Sarkissian
-
Blockchain5 days agoBlocks & Headlines: Today in Blockchain – April 11, 2025 (Featuring Stellar, Plume, Taurus, and Apollo)
-
Blockchain6 days ago
Tectum Announces Launch of Innovation Hub To Drive Tokenization of Real World Businesses
-
Blockchain6 days ago
Blocks & Headlines: Today in Blockchain – April 12, 2025 | Featured: Sharering, Forbes Insights, New York Assembly, XT-COM, Korea Gaming AI
-
Blockchain Press Releases6 days agoCrypto Content Creator Campus (CCCC) Arrives in Bali with Web3’s Brightest Stars and Overwhelming Ecosystem Support
-
Blockchain Press Releases5 days agoAB Charity Foundation Launches to Pioneer a New Global Model for Public Good Driven by Institutional Trust and Technology
-
Blockchain Press Releases6 days agoMEXC to List KernelDAO ($KERNEL) with a 135,000 USDT Prize Pool
-
Blockchain Press Releases5 days ago
MEXC Among Top 3 CEXs with $1.79B Monthly Inflows, Driven by Innovative Strategies
-
Blockchain2 days ago
Blocks & Headlines: Today in Blockchain – April 14, 2025: Featuring OM, XRP, JPMorgan, and Next-Gen Blockchain Innovations
