ProShares’ Crypto ETF: Get Ready for a Wild Ride with Bitcoin, Ethereum & Friends!

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ProShares files with SEC for CoinDesk 20 ETF to track Bitcoin, Ethereum, XRP, and Solana via swaps and derivatives.

In a bold move that will probably make even your grandma raise an eyebrow, ProShares-yes, the same guys who gave us the Bitcoin futures ETF back in 2021-has filed with the SEC to launch a cryptocurrency ETF. Groundbreaking stuff, right? Or maybe just another Monday in the world of crypto.

The new fund, aptly named the ProShares CoinDesk Crypto 20 ETF, is all set to track the CoinDesk 20 Index, which includes the usual suspects: Bitcoin, Ethereum, XRP, and Solana. But here’s the catch: no crypto is actually being held. Instead, this ETF plans to use swaps and derivatives, which-spoiler alert-means your crypto dreams are still a distant reality.

ETF to Track CoinDesk 20 Index Without Holding Crypto Directly

According to the SEC filing (oh yes, it’s official, folks), the ProShares CoinDesk Crypto 20 ETF is going full-on “indirect” with its crypto exposure. No direct crypto holdings here! Instead, it’s relying on financial instruments like swaps and derivatives to mimic the performance of the CoinDesk 20 Index. No direct crypto exposure, just a Cayman Islands subsidiary holding some contracts-because who doesn’t love a little offshore maneuvering, right?

The CoinDesk 20 Index is a curated list of the most traded and liquid digital assets-goodbye, stablecoins and memecoins (for now, at least). So, yeah, ProShares is betting big on Bitcoin, Ethereum, XRP, and Solana. Basically, if you’re not one of the big players, you’re not invited to this party.

Designed for the big boys-i.e., institutional investors-this ETF aims to offer diversified access to these major cryptocurrencies in a lovely, regulated package. Because who wouldn’t want to trade high-risk digital assets… in a regulated format? Sweet irony.

Rising Competition and Institutional Demand for Crypto ETFs

But wait, there’s more! The ProShares filing comes at a time when crypto ETFs are hotter than ever. And no, we’re not just talking about the price of Solana. With 155 crypto ETP filings now tracking 35 different digital assets, the competition is getting fierce. The forecast? Over 200 filings in the next 12 months. Get ready for the crypto ETF land rush, folks! It’s like the Wild West, but with more spreadsheets and less tumbleweed.

There’s now 155 crypto ETP filings tracking 35 different digital assets. Could easily end up seeing over 200 hit mkt in next 12mo. Total land rush. Here’s the list by coin, amazing work from

– Eric Balchunas (@EricBalchunas)

And let’s not forget about VanEck and 21Shares, who are also jumping into the crypto ETF game. With filings for Solana and Dogecoin (yes, Dogecoin), it’s clear: they’re giving the people what they want. Or at least trying to. The race to meet regulatory standards while pleasing investors is on!

Broader Market Trends Favor Diversified Crypto Access

The CoinDesk 20 Index, which gets rebalanced every quarter (don’t blink or you might miss it), includes heavyweights like Bitcoin, Ethereum, Solana, Cardano, XRP, and Avalanche. It avoids those lower-liquidity assets that no one wants to touch with a ten-foot pole. ProShares’ new ETF, if approved, will fit right into the growing trend of diversified crypto exposure. A perfect way for institutions and traditional investors to dip their toes in the digital asset pool-without ever having to touch the water directly. Go on, live a little!

In short, as crypto adoption continues to grow and regulators finally catch up, products like these may be the golden ticket for those looking for a compliant way into the crypto world. Who knew that “regulated” and “crypto” could actually go hand in hand? The future, as they say, is strange.

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2025-10-22 16:21