ProShares
(Redirected from Michael Sapir)
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| Industry | Financial services |
|---|---|
| Founded | ProFunds Group: 1997 ProShares: 2006 |
| Founders | Louis Mayberg Michael Sapir |
| Headquarters | Bethesda, Maryland |
| Products | Exchange-traded funds |
| AUM | US$70 billion (2024)[1] |
| Website | www |
ProShares is an issuer of exchange-traded funds, including inverse exchange-traded funds, and similar products.[2]
History
[edit]ProFunds Group was founded in 1997 by former Rydex employees Louis Mayberg and Michael Sapir for $100,000.[3][4] That year, it introduced bear market inverse mutual funds.
In 2006, ProFunds Group launched ProShares and its first inverse exchange-traded fund.[5][6][7]
In October 2021, the company launched an exchange-traded fund that invests in Bitcoin futures contracts.[1][8]
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.[9]
References
[edit]- ^ a b "ProShares to Launch the First U.S. Bitcoin-Linked ETF on October 19" (Press release). ProShares. October 18, 2021.
- ^ "How The Parts Add Up: The ProShares UltraPro QQQ ETF Targets $67". Forbes. September 3, 2019.
- ^ Creswell, Julie (December 12, 1997). "Former Rydex Employees Launch Competing Mutual-Fund Families". The Wall Street Journal. ISSN 0099-9660.
- ^ Brandstrader, J. R. (April 6, 1998). "Dialing Up Dollars". The Wall Street Journal. ISSN 0099-9660.
- ^ Fisher, Billy (August 26, 2008). "Inverse ETFs on Market's Good Side". TheStreet.com.
- ^ Spence, John (May 29, 2006). "ProFunds prepares first leveraged ETFs". MarketWatch.
- ^ "Build Your Own Hedge Fund". Forbes. June 1, 2007.
- ^ 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.
- ^ "Ethereum ETFs: 7 New Ethereum ETFs launched | COINOTAG". en.coinotag.com. 2 October 2023. Retrieved 4 October 2023.
