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AP National Business

Insider Q&A: ProShares CEO Michael Sapir on bitcoin funds

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Published 6:10 AM

By STAN CHOE
AP Business Writer

NEW YORK (AP) — Bitcoin’s public profile grew six months ago when the first exchange-traded product tied to the cryptocurrency hit the market. It took just two days for the fund, the ProShares Bitcoin Strategy ETF, to amass $1 billion. ProShares CEO Michael Sapir spoke recently with The Associated Press about the fund’s debut and about how bitcoin hasn’t lived up to one of its initial pitches to investors. He said the fund targets investors as willing to take on risk as regular crypto investors, but who may be hesitant to do so unless they can do it through more traditional channels. 

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