Summary
ProShares, the company behind the first spot bitcoin ETF in the US, is planning to launch five new leveraged and inverse bitcoin funds. The funds would seek daily investment results corresponding to the performance of the Bloomberg Galaxy Bitcoin Index at different levels. However, these funds would not directly invest in bitcoin. ProShares did not join the wave of issuers that launched spot bitcoin ETFs last week, as the company believes the bitcoin futures market is more mature, liquid, and regulated.
Key Points
1. ProShares is preparing to launch five new leveraged and inverse bitcoin funds, expanding its lineup of cryptocurrency ETFs.
2. These planned ETFs aim to provide daily investment results that correspond to the daily performance of the Bloomberg Galaxy Bitcoin Index at different levels.
3. While ProShares has already launched the ProShares Bitcoin Strategy ETF, which holds bitcoin futures, it has not yet announced plans to offer a fund that would directly hold bitcoin.