ProShares has abandoned its plans to launch 3x leveraged Exchange Traded Funds (ETFs) for Bitcoin, Ethereum, and XRP. This decision comes in response to concerns raised by the U.S. Securities and Exchange Commission (SEC).
Bloomberg volatility data indicated significant risks associated with these leveraged products, suggesting a high potential for substantial losses. The SEC's scrutiny likely focused on the complex nature and potential for extreme price swings inherent in such high-leveraged financial instruments.