ProShares has filed an application with the U.S. Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) focused on bitcoin and ethereum.
According to the filing, the Bitcoin & Ether Equal Weight ETF will measure “the performance of holding long positions in the nearest maturing monthly bitcoin and ether futures contracts.”
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.