ProShares Files Application for Bitcoin & Ether Equal Weight ETF
ProShares has submitted an application to the SEC for a new exchange-traded fund (ETF) that will focus on bitcoin and ethereum. The proposed Bitcoin & Ether Equal Weight ETF will track the performance of holding long positions in the nearest maturing monthly bitcoin and ether futures contracts. This comes as excitement grows around the potential approval of a spot bitcoin ETF in the U.S., which would allow for direct investment in bitcoin rather than bitcoin futures. ProShares already offers a bitcoin futures ETF and has previously filed for an ETF focused on the metaverse.
Key Points:
- ProShares has applied for a new ETF focused on bitcoin and ethereum.
- The Bitcoin & Ether Equal Weight ETF will track the performance of holding long positions in bitcoin and ether futures contracts.
- Investors are eagerly awaiting the approval of a spot bitcoin ETF in the U.S.
- ProShares already offers a bitcoin futures ETF.
- The company has also filed for an ETF focused on the metaverse.
Hot Take
The filing of ProShares’ Bitcoin & Ether Equal Weight ETF is another step towards greater accessibility and diversification in the crypto investment space. If approved, this ETF would provide an alternative for investors who prefer to hold bitcoin and ethereum directly rather than through futures contracts. With the growing interest in cryptocurrencies, it is likely that we will continue to see more ETFs and investment products focused on digital assets in the future.
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