ProShares is an issuer of
exchange-traded fund
An exchange-traded fund (ETF) is a type of investment fund that is also an exchange-traded product, i.e., it is traded on stock exchanges. ETFs own financial assets such as stocks, bonds, currencies, debts, futures contracts, and/or comm ...
s, including
inverse exchange-traded funds, and similar products.
History
ProFunds Group was founded in 1997 by former
Rydex employees Louis Mayberg and Michael Sapir for $100,000. That year, it introduced bear market inverse mutual funds.
In 2006, ProFunds Group launched ProShares and its first
inverse exchange-traded fund.
In October 2021, the company launched an exchange-traded fund that invests in
Bitcoin
Bitcoin (abbreviation: BTC; Currency symbol, sign: ₿) is the first Decentralized application, decentralized cryptocurrency. Based on a free-market ideology, bitcoin was invented in 2008 when an unknown entity published a white paper under ...
futures contract
In finance, a futures contract (sometimes called futures) is a standardized legal contract to buy or sell something at a predetermined price for delivery at a specified time in the future, between parties not yet known to each other. The item tr ...
s.
On October 2, 2023, ProShares launched 3 Ethereum Futures ETFs in the US, becoming one of the first companies to launch an Ethereum ETF in US history.
References
External links
* {{Official website
2006 establishments in Maryland
Companies based in Bethesda, Maryland
Financial services companies of the United States
Financial services companies established in 2006
Investment management companies of the United States