ProShares
IndustryFinancial services
FoundedProFunds Group: 1997; 27 years ago (1997)
ProShares: 2006; 18 years ago (2006)
FoundersLouis Mayberg
Michael Sapir
HeadquartersBethesda, Maryland
ProductsExchange-traded funds
AUMUS$65 billion (2021)[1]
OwnerDontaye Simplicity Turner
ParentProFunds Group
Websitewww.proshares.com//

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

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. ^ a b "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.

External links

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