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ProShares has lodged an application with the U.S. Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) centered around bitcoin and ethereum, aiming to create a more refined investment option in the cryptocurrency market.
The Bitcoin & Ether Equal Weight ETF, as stated in the filing, aims to track "the performance of holding long positions in the nearest maturing monthly bitcoin and ether futures contracts."
In the past few months, there has been a growing anticipation surrounding the potential approval of a spot Bitcoin exchange-traded fund (ETF). Currently, the United States only permits investment in Bitcoin futures ETFs, which are supported by Bitcoin derivatives.
The most recent submission expands ProShares' array of cryptocurrency-related funds, featuring a bitcoin futures ETF already in its portfolio. In December, the company submitted an application to the SEC for an ETF centered around the metaverse, further diversifying its offerings in this innovative space.
