ProShares is an issuer of
exchange-traded funds, including
inverse exchange-traded fund
An inverse exchange-traded fund is an exchange-traded fund (ETF), traded on a public stock market, which is designed to perform as the ''inverse'' of whatever index or benchmark it is designed to track. These funds work by using short selling, tra ...
s, and similar products.
History
ProFunds Group was founded in 1997 with $100,000 by former
Rydex employees Louis Mayberg and Michael Sapir. That year, it introduced bear market inverse mutual funds.
In 2006, ProFunds Group launched ProShares and its first
inverse exchange-traded fund
An inverse exchange-traded fund is an exchange-traded fund (ETF), traded on a public stock market, which is designed to perform as the ''inverse'' of whatever index or benchmark it is designed to track. These funds work by using short selling, tra ...
.
In October 2021, the company launched an exchange-traded fund that invests in
Bitcoin
Bitcoin ( abbreviation: BTC; sign: ₿) is a decentralized digital currency that can be transferred on the peer-to-peer bitcoin network. Bitcoin transactions are verified by network nodes through cryptography and recorded in a public di ...
futures contract
In finance, a futures contract (sometimes called a futures) is a standardized legal contract to buy or sell something at a predetermined price for delivery at a specified time in the future, between parties not yet known to each other. The asset ...
s.
References
External links
* {{Official website
2006 establishments in Maryland
Companies based in Bethesda, Maryland
Financial services companies of the United States
Financial services companies established in 2006
Investment management companies of the United States