ProShares Plans 2x Daily Leveraged Zcash ETF

ProShares’ Ultra Zcash ETF would seek twice the daily performance of a Zcash index, offering leveraged exposure primarily through cash-settled Zcash futures. The fund plans to rebalance daily and may use reverse repos and a Cayman Islands subsidiary to help achieve its 2x target. Returns over periods longer than one day may diverge significantly from twice Zcash’s cumulative performance due to daily compounding. Futures rolling could also help or hurt returns depending on contango or backwardation, adding another layer of risk beyond Zcash’s already volatile price.