Investment Firm ProShares Launches Three New ETFs
ProShares, one of the leading investment firms in the United States, has launched three new exchange-traded funds (ETFs) in an attempt to expand its product base.
ProShares Introduces Three New ETFs
ProShares, a premier provider of ETFs, announced earlier today that it had launched three new ETFs. The exchange-traded funds, dubbed ProShares On-Demand ETF (OND), ProShares Smart Materials ETF (TINT), and ProShares Nanotechnology ETF (TINY), add to the company’s rising number of investment products.
So far this year, ProShares has launched six thematic ETFs, taking its total to 12 at the moment. In a press release earlier today, ProShares CEO Michael L. Sapir said the latest ProShares Thematic ETFs provide their investors with new and effective ways to gain exposure to companies that are changing the world through innovation.
The launch of these ETFs comes a month after the investment firm launched three other ETFs, ProShares S&P Kensho Cleantech ETF (CTEX), ProShares S&P Kensho Smart Factories ETF (MAKX) and ProShares Big Data Refiners ETF (DAT).
ProShares’ Bitcoin Futures ETF Is Currently Underperforming
ProShares became the first investment firm to launch a Bitcoin futures ETF last week. The Bitcoin ETF (BITO) recorded more than $1 billion in transaction volume in its opening two days, indicating a huge demand for the cryptocurrency-focused exchange-traded fund.
Due to the huge demand for the ProShares Bitcoin ETF (BITO), the trading limit available for the futures on the CME exchange will be breached before the end of the month. As a result, investors would not have access to the futures until next month.
Despite its excellent debut, the shares of the BITO ETF are currently down by 5.52% since the market opened a few hours ago. BITO is currently trading at $37.85 per share. The decline in the ETF’s value could be tied to Bitcoin’s underperformance in the market over the past 24 hours. BTC‘s price has dropped below the $60k level for the first time in days. The dip below $60k comes just a week after Bitcoin reached a new all-time high price above $67,000.