ProShares Launches New Crypto ETF to Tap Expanding Market

ProShares is poised to expand its presence in the cryptocurrency sector with a new exchange-traded fund (ETF) aimed at tracking the CoinDesk 20 Index. The company has filed a request with the U.S. Securities and Exchange Commission (SEC) for approval of this innovative investment vehicle, which will provide investors with direct exposure to the top 20 cryptocurrencies by market capitalization. The ETF utilizes financial instruments like swap agreements and derivatives to track this benchmark, offering investors a streamlined way to participate in the cryptocurrency market without directly purchasing digital assets.