ProShares filed 5 applications yesterday to launch leveraged and inverse Bitcoin ETFs.
According to the documents, the funds in question are ProShares Plus Bitcoin ETF, ProShares Ultra Bitcoin ETF, ProShares UltraShort Bitcoin ETF, Proshares Short Bitcoin ETF and ProShares ShortPlus Bitcoin ETF.
The applications highlight one of the funds "seeks daily investment results, before fees and expenses, that correspond to two times (2x) of the daily performance of the Bloomberg Galaxy Bitcoin Index."
Two of the requested funds do not make direct investments in Bitcoin, while the other three do not directly short Bitcoin.
The applications have been filed a few days after the US Securities and Exchange Commission (SEC) approved 11 spot Bitcoin ETFs.