ProShares plans to launch three ETFs that will use Bitcoin futures contracts to deliver returns priced in Bitcoin. By taking long positions in traditional indices like the S&P 500 and hedging against the US dollar, these funds aim to reduce currency fluctuation risks.
To comply with U.S. Tax regulations, ProShares will allocate up to 25% of each fund’s assets in subsidiaries based in the Cayman Islands. This structure supports their goal to retain regulated investment company status while integrating Bitcoin more heavily into traditional investment products.