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Cryptocurrency News Articles

ProShares Makes Another Decisive Move to Expand Its Bitcoin ETF (TSX:EBIT) Products Suite

Dec 29, 2024 at 03:02 am

American ETP issuer ProShares has made another decisive move to expand its Bitcoin ETF (TSX:EBIT) products suite.

ProShares Makes Another Decisive Move to Expand Its Bitcoin ETF (TSX:EBIT) Products Suite

ProShares, a leading American ETP issuer, has filed to launch three new Bitcoin-linked ETF products with stock market native products as reserves.

The filings come as the U.S. SEC is expected to become more lenient in approving crypto ETFs next year with a new Chairman set to take office.

The products are long in the underlying stocks or gold and would feature a short USD and long Bitcoin position using Bitcoin Futures offerings.

Since spot Bitcoin and Ethereum ETF products secured approval, there has been no slowing down in the number of filings.

While the number of crypto ETFs has grown, asset managers are also intensifying how these offerings target traditional finance products more closely.

News source:ca.investing.com

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