ProShares has announced its intent to launch an index ETF tracking Bitcoin, Ethereum, XRP, and Solana derivatives. This move expands the firm’s US-listed crypto fund offerings, providing investors a way to gain exposure to these digital assets without direct ownership. The ETF will utilize futures and swaps to track crypto indices, similar to ProShares’ successful Bitcoin Strategy ETF launched in 2021. While this filing has the potential to significantly impact market dynamics by increasing derivatives trading volumes, it should be noted that the ETF won’t directly hold the actual cryptocurrencies. ProShares has also highlighted its commitment to the ETF space and expects the new product will further drive innovation.