ProShares abandons lineup of leveraged ETFs featuring Bitcoin, Ether, XRP, and Solana after SEC revision request

ProShares has withdrawn its application for a series of leveraged exchange-traded funds (ETFs) that aimed to provide 3x daily exposure to digital assets like Bitcoin, Ether, XRP, and Solana, alongside technology stocks. This decision came after the SEC's Division of Investment Management sent a letter expressing concerns about the post-effective amendments for ETFs seeking more than 200% leveraged exposure. The SEC questioned whether the funds' filings accurately measured leverage risk using the underlying securities or indices. Following the regulator's request for revisions or delays, ProShares filed to withdraw the registration statement for the funds, confirming that no securities had been sold related to the filing.

(Source：Crypto Briefing)