ETFStore President NateGeraci posted on social media that ProShares has submitted documents for S&P500, Nasdaq 100, and Bitcoin denominated gold ETFs, which are essentially composed of long positions in underlying stocks or gold, and then short US dollars/long Bitcoin positions using Bitcoin futures. In my personal opinion, it belongs to the category of "BTC hedge ETF". @yogy

Interesting development in the ETF market. It seems like ProShares is exploring innovative ways to incorporate Bitcoin into traditional investment products.