Asset manager ProShares is looking to gain an advantage in the market, as suggested by its latest Bitcoin ETF filing with the Securities and Exchange Commission (SEC). This comes as its BTC futures ETF looks to have lost a significant number of investors to the recently launched Spot BTC ETFs.
ProShares Files For 5 Bitcoin Inverse And Leveraged ETFs
According to the filing, these inverse and leveraged ETFs will track the daily performance of the Bloomberg Galaxy Bitcoin Index. Out of the five ETFs, three happen to be inverse, namely ProShares UltraShort Bitcoin ETF, ProShares ShortPlus Bitcoin ETF, and ProShares Short BTC ETF. As noted in the filing, these funds won’t directly short BTC but only look to benefit from decreases in its price.
Meanwhile, the leveraged ETFs are named the ProShares Plus Bitcoin ETF and ProShares Ultra Bitcoin ETF. Like the inverse ETFs, these funds will also not invest directly in BTC but will only be looking to benefit from significant price changes i
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