TechFlow news — ProShares has announced the withdrawal of its proposal to launch the 2x leveraged Bitcoin exchange-traded fund (ETF), the ProShares Ultra Bitcoin Strategy ETF.
No reason has been disclosed for the sudden withdrawal, but it may be related to the ongoing review by the U.S. Securities and Exchange Commission.
In addition, digital asset research firm K33 Research released a report showing that ProShares’ Bitcoin futures exchange-traded fund (ETF) BITO has underperformed during periods of rising Bitcoin prices, primarily due to structural costs associated with its futures contracts.




