ProShares Opens New Headquarters, Affirms Commitment to Greater Washington D.C. Area

Rhea-AI Summary

ProShares has officially opened its new headquarters in downtown Bethesda, Maryland, reflecting its rapid growth and commitment to innovation. The asset management firm has more than doubled its assets under management to over $70 billion in the last three years. The new office spans 54,000 sq. ft. and is designed to enhance collaboration and employee wellness. ProShares has pioneered products like the first bitcoin-linked ETF, BITO, and the thematic ETF VERS to capitalize on emerging markets. The firm continues to target future growth as it returns employees to the office after remote work.

Positive

• ProShares opened a new 54,000 sq. ft. headquarters in Bethesda, indicating growth.
• Assets under management exceeded $70 billion, doubling in three years.
• Launch of innovative products like BITO, the first U.S. bitcoin-linked ETF, enhances market positioning.
• VERS ETF provides access to companies in the growing metaverse sector.

Negative

• None.

Asset management firm’s 54,000-sq.-ft. office highlights dedication to talent and innovation in downtown Bethesda

BETHESDA, Md.--(BUSINESS WIRE)-- ProShares, a premier provider of ETFs, is pleased to announce the opening of its new headquarters at The Wilson on Wisconsin Avenue, a sign of the fast-growing asset management firm’s commitment to the Greater Washington D.C. area.

ProShares has more than doubled in size over the past three years to over $70 billion under management, while launching innovative products like BITO, the first-ever bitcoin-linked ETF in the United States, and VERS, a new thematic ETF that allows investors to access the companies shaping the metaverse. The firm has grown to more than 160 employees, most of whom will work out of its new downtown headquarters.

“For 25 years, ProShares and its affiliates have pioneered some of the most innovative funds in the asset management industry,” says ProShares CEO Michael L. Sapir. “Our new office space is not only a testament to our firm’s success, but it positions us well for future growth as an employer of choice in the Washington DC area.”

ProShares will occupy three top floors of The Wilson, a 24-story, state-of-the-art building designed with sustainability, health and wellness in mind. Employees and visitors will enjoy an open, modern workspace designed for collaboration, with indoor and outdoor meeting spaces as well as areas for more casual gatherings. The office provides panoramic views in all directions, extending to the Capitol Building and Washington Monument. It is conveniently located close to public transportation and parking, with easy access to the Bethesda Row shopping, dining and entertainment district and the Capital Crescent trail for outdoor exercise.

ProShares employees will fully return to the office this week after nearly two years of working remotely. “Our hope is that our beautiful, new workspace will foster a spirit of collaboration and innovation that has been the hallmark of our success for more than two decades,” said Mike Butler, ProShares Chief Human Resources Officer.

About ProShares

ProShares has been at the forefront of the ETF revolution since 2006. ProShares now offers one of the largest lineups of ETFs, with over $70 billion in assets. The company is the leader in strategies such as dividend growth, interest rate hedged bond and geared (leveraged and inverse) ETF investing. ProShares continues to innovate with products that provide strategic and tactical opportunities for investors to manage risk and enhance returns.

There is no guarantee any ProShares ETF will achieve its investment objective. Investing involves risk, including the possible loss of principal.

Carefully consider the investment objectives, risks, charges and expenses of ProShares before investing. This and other information can be found in their summary and full prospectuses. Read them carefully before investing.

ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the funds' advisor or sponsor.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220404005230/en/

Media:

Tucker Hewes, Hewes Communications, Inc., (212) 207-9451, tucker@hewescomm.com

Investor:

ProShares, (866) 776-5125, ProShares.com

Source: ProShares