ProShares has submitted an application to launch Bitcoin hedge ETFs tied to the S&P 500, Nasdaq 100, and gold.
ProShares has filed an application with the US Securities and Exchange Commission (SEC) to launch three Bitcoin hedge ETFs that will be linked to the S&P 500, Nasdaq 100, and gold. These ETFs will employ a strategy that combines long positions in either stocks or gold with short positions on the US dollar, along with long positions in Bitcoin through futures contracts.
The ETFs will enable ProShares to capitalize on Bitcoin’s potential as an alternative asset while maintaining exposure to traditional financial markets. However, it's important to note that the fund will not directly invest in Bitcoin.
The filings also serve as an indication of the growing market confidence in flagship crypto projects, as another fund application is being processed by the SEC. REX had proposed a new exchange-traded fund (ETF) that will invest in convertible bonds issued by companies that hold Bitcoin in their corporate treasuries.
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