Misplaced Pages

ProShares

Article snapshot taken from Wikipedia with creative commons attribution-sharealike license. Give it a read and then ask your questions in the chat. We can research this topic together.
(Redirected from Michael Sapir) Issuer of exchange-traded funds
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$70 billion (2024)
Websitewww.proshares.com//

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

History

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

In 2006, ProFunds Group launched ProShares and its first inverse exchange-traded fund.

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

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.


References

  1. ^ "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

Categories: