ProShares Shelves Entire 3x Crypto and Tech ETF Lineup After SEC Pushback
ProShares on Dec. 5, 2025 pulled its entire lineup of 3x leveraged technology and crypto ETFs after the U.S. Securities and Exchange Commission raised issues with the firm’s approach to measuring and controlling leverage risk. The move affects funds tied to major crypto exposures — including BTC, ETH and XRP — and removes a regulated, amplified spot-access option that traders and some institutions had been eyeing.
The decision underscores growing SEC scrutiny of complex leveraged products and could chill future issuer appetite for aggressive ETF leverage structures. Market participants may shift toward futures, options or offshore products to replicate similar exposure, raising execution and counterparty risks. Investors should reassess portfolios and ensure appropriate risk controls if they relied on these ETFs for tactical or amplified crypto exposure.