ProShares

Last updated
ProShares
Industry Financial services
FoundedProFunds Group: 1997;28 years ago (1997)
ProShares: 2006;19 years ago (2006)
FoundersLouis Mayberg
Michael Sapir
Headquarters Bethesda, Maryland
Products Exchange-traded funds
AUM US$70 billion (2024) [1]
Website www.proshares.com//

ProShares is an American issuer of exchange-traded funds, including inverse exchange-traded funds, and similar products. [2]

Contents

History

ProFunds Group was founded in 1997 by former Rydex employees Louis Mayberg and Michael Sapir for $100,000. [3] [4] That year, it introduced bear market inverse mutual funds.

In 2006, ProFunds Group launched ProShares and its first inverse exchange-traded fund. [5] [6] [7]

In October 2021, the company launched an exchange-traded fund that invests in Bitcoin futures contracts. [1] [8]

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. [9]

References

  1. 1 2 "ProShares to Launch the First U.S. Bitcoin-Linked ETF on October 19" (Press release). ProShares. October 18, 2021.
  2. ↑ "How The Parts Add Up: The ProShares UltraPro QQQ ETF Targets $67". Forbes . September 3, 2019.
  3. ↑ Creswell, Julie (December 12, 1997). "Former Rydex Employees Launch Competing Mutual-Fund Families" . The Wall Street Journal . ISSN   0099-9660.
  4. ↑ Brandstrader, J. R. (April 6, 1998). "Dialing Up Dollars" . The Wall Street Journal . ISSN   0099-9660.
  5. ↑ Fisher, Billy (August 26, 2008). "Inverse ETFs on Market's Good Side". TheStreet.com .
  6. ↑ Spence, John (May 29, 2006). "ProFunds prepares first leveraged ETFs" . MarketWatch .
  7. ↑ "Build Your Own Hedge Fund" . Forbes . June 1, 2007.
  8. ↑ Newmyer, Tory (October 19, 2021). "Bitcoin-based fund's expected launch will make it easier for investors to buy a stake in crypto" . The Washington Post .
  9. ↑ "Ethereum ETFs: 7 New Ethereum ETFs launched | COINOTAG". en.coinotag.com. 2 October 2023. Retrieved 4 October 2023.
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