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ProShares has launched the first short bitcoin strategy ETF in the U.S., named BITI, which traded over 870,000 shares worth $35 million on its second day. This fund offers investors a cost-effective way to gain short exposure to bitcoin, addressing challenges posed by traditional methods. BITI aims to deliver the inverse performance of the S&P CME Bitcoin Futures Index and is available alongside ProFunds' new Short Bitcoin Strategy ProFund (BITIX). Investors should be aware of the risks involved, including potential losses and market volatility.
ProShares has officially opened its new headquarters in downtown Bethesda, Maryland, reflecting its rapid growth and commitment to innovation. The asset management firm has more than doubled its assets under management to over $70 billion in the last three years. The new office spans 54,000 sq. ft. and is designed to enhance collaboration and employee wellness. ProShares has pioneered products like the first bitcoin-linked ETF, BITO, and the thematic ETF VERS to capitalize on emerging markets. The firm continues to target future growth as it returns employees to the office after remote work.
ProShares has launched the Metaverse ETF (VERS), targeting investments in leading companies shaping the metaverse. This ETF tracks the Solactive Metaverse Theme Index, which includes 40 companies from various sectors like gaming, social media, and technology. ProShares emphasizes the metaverse's potential impact, comparable to the internet's arrival. The firm previously launched the bitcoin-linked ETF (BITO) in 2021, expanding its thematic funds portfolio, now exceeding $60 billion in assets.
ProShares has appointed Eric Dash as the new Executive Director, Chief Content and Communications Officer. In this pivotal role, he will oversee both internal and external communications, aiming to strengthen the brand and enhance policy initiatives. Reporting directly to CEO Michael L. Sapir, Dash brings extensive experience from his own firm and prior roles at the U.S. Treasury and The New York Times. ProShares, a leader in the ETF space with approximately $75 billion in managed assets, continues to innovate to provide strategic investment opportunities.
ProShares CEO Michael L. Sapir has been named to the 2021 Bloomberg 50, a prestigious list of influential leaders recognized for their significant contributions across various industries. The announcement highlights ProShares' innovation in the ETF space, notably the launch of the first U.S. bitcoin-linked ETF, BITO. ProShares now manages approximately $75 billion in assets, showcasing its leadership in investment strategies. The Bloomberg 50 will be published in the December 6 issue of Bloomberg Businessweek.
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