[2] ProFunds Group was founded in 1997 by former Rydex employees Louis Mayberg and Michael Sapir for $100,000.

[3][4] That year, it introduced bear market inverse mutual funds.

In 2006, ProFunds Group launched ProShares and its first inverse exchange-traded fund.

[5][6][7] In October 2021, the company launched an exchange-traded fund that invests in Bitcoin futures contracts.

[1][8] On October 2, 2023, ProShares launched 3 Ethereum Futures ETFs in the US, becoming one of the first companies to launch an Ethereum ETF in US history.