ProShares, an asset management firm, is aiming to secure a competitive edge in the market by submitting a new Bitcoin ETF proposal to the Securities and Exchange Commission (SEC). ProShares has submitted applications for five inverse and leveraged Bitcoin ETFs at a time when their BTC futures ETF appears to be shedding a substantial amount of investors to the newly introduced Spot BTC ETFs. The filing indicates that the exchange-traded funds (ETFs), which are inverse and leveraged, aim to follow the daily movements of the Bloomberg Galaxy Bitcoin Index. Among the five ETFs, three of them are designed to perform inversely, specifically: the ProShares UltraShort Bitcoin ETF, the ProShares ShortPlus Bitcoin ETF, and the ProShares Short BTC ETF. According to the submission, these funds will not engage in direct short-selling of Bitcoin, but rather aim to gain from any declines in its value. In other news of interest, the lead developer of Shiba Inu has presented a preview of the SHIB Name Service, and details are provided on how to gain early access. Additionally, the officially titled leveraged exchange-traded funds (ETFs) are the ProShares Plus Bitcoin ETF and the ProShares Ultra Bitcoin ETF. Similar to inverse ETFs, these funds won’t directly hold Bitcoin, instead aiming to capitalize on substantial fluctuations in its value. ProShares stands out in the market for providing cryptocurrency-focused exchange-traded funds (ETFs), having been the pioneer in introducing a Bitcoin futures ETF with their ProShares Bitcoin Strategy ETF (BITO). They also introduced the initial exchange-traded fund to monitor Ethereum’s market performance.