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ProShares, Bitwise File for Bitcoin and Ether ETFs
If approved, the fund will measure "the performance of holding long positions in the nearest maturing monthly bitcoin and ether futures contracts."
Updated Aug 21, 2023, 3:11 p.m. Published Aug 4, 2023, 1:53 a.m.
ProShares and Bitwise have filed an application with the U.S. Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) focused on bitcoin and ether (ETH).
According to ProShares' filing, the Bitcoin and Ether Equal Weight ETF will measure "the performance of holding long positions in the nearest maturing monthly bitcoin and ether futures contracts."
Bitwise also filed for a Bitcoin and Ether Market Weight ETF.
In recent months, excitement has mounted over the possibility a spot bitcoin exchange-traded fund could soon be approved. At present, the U.S. only allows for investment in bitcoin futures ETFs, which are backed by bitcoin derivatives.
The latest filing adds to ProShares' roster of crypto-related funds, which include a bitcoin futures ETF. In December, the group filed an application with the SEC for an ETF focused on the metaverse.
UPDATE (Aug 4, 04:40 UTC): Adds Bitwise details to story and headline.
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