Asset management firm ProShares unveiled plans to launch three exchange-traded funds (ETFs) that would measure S&P 500, Nasdaq-100, and gold returns in Bitcoin rather than dollars, potentially creating a new category of cryptocurrency-linked investment products.
The Maryland-based investment manager, which oversees $75 billion in assets, submitted regulatory filings to the Securities and Exchange Commission detailing a strategy that combines traditional market exposure with Bitcoin futures positions.
According to company documents filed on December 27, the proposed funds would hold conventional assets while simultaneously maintaining short dollar positions and long Bitcoin futures contracts, with monthly rebalancing of the currency hedge.
The structure suggests a shift in how mainstream investment products might interact with cryptocurrency markets. Each fund would channel up to a quarter of its assets through Cayman Islands subsidiaries to maintain compliance with US tax regulations.
ProShares has yet to disclose management fees or trading symbols for the new funds. All proposals remain subject to SEC review, as the regulator continues its scrutiny of cryptocurrency investment vehicles.
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