ProShares Files Five Spot BTC-based Leveraged ETFs with SEC

"ProShares has filed five BTC spot-based leveraged ETFs with the U.S. Securities and Exchange Commission (SEC)," Eric Balchunas, an analyst specializing in ETFs for Bloomberg, reports via X. The products are the ProShares UltraShort Bitcoin ETF (-2x), ProShares ShortPlus Bitcoin ETF (-1.5x), ProShares Short Bitcoin ETF (-1x), ProShares Plus Bitcoin ETF (1.5x) and ProShares Ultra Bitcoin ETF (2x), which track the daily performance of the Bloomberg Galaxy Bitcoin Index. "As many as a dozen similar products could be launched in the coming months," added Eric Balchunas.

Meanwhile, James Seyffart, an analyst specializing in ETFs at Bloomberg, told X: "A 19b-4 (a formal request for review) was filed on Wednesday (local time) to allow options trading in a bitcoin spot ETF. In theory, the US Securities and Exchange Commission (SEC) could fast-track it and approve it within 60 days (first response deadline). Of course, there could be delays and the approval could be delayed until late September or early October. There is also the possibility of a denial." Earlier, Bloomberg Intelligence ETF analyst Henry Jim reported on March 13 that "The New York Stock Exchange (NYSE) has filed a 19b-4 to allow the listing and trading of options on 11 BTC spot ETFs.