Michael Sapir, CEO of Bethesda-Based ProShares Makes The Bloomberg 50 List

ProShares, a premiere provider of ETFs based in Bethesda, launched the first bitcoin-linked ETF in the United States (NYSE Ticker: BITO) back on October 19th.

After the October launch, over $1 billion was invested into it in two days, making it the the fastest that any exchange-traded fund has reached that milestone.

ProShares CEO Michael Sapir was recently named in The Bloomberg 50– an unranked list annually featuring 50 individuals or initiatives with “the ability to move markets or shape ideas and policies”.

Per Bloomberg:

Sapir co-founded ProShares in 1997, close to the dawn of the now $7 trillion U.S. ETF industry, and the company now oversees more than $68 billion in assets.

His Bitcoin ETF tapped into pent-up demand from investors who want exposure to cryptocurrency without the inconvenience of mining it and the ups and downs of having it in their portfolios. (Bitcoin’s last three full-year returns were a 74% loss followed by gains of 95% and 305%.) Sapir already has competition: Currently there are about a half-dozen pending applications for similar futures-based products in front of the SEC.

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FEST OF SPRING Caribbean Wine Food & Music Festival

Get ready to experience the vibrant colors, tantalizing flavors, and infectious rhythms of the Caribbean at the FEST OF SPRING Caribbean Wine Food & Music Festival! Hosted by RHU LLC, this exciting festival is set to take place on May 18, 2024, at the picturesque 16700 Barnesville Rd in Boyds, MD.

Step into a world where the Caribbean spirit comes alive! From 12:00 PM onwards, immerse yourself in a sensory journey that celebrates the unique culture, cuisine, and music of the Caribbean. Whether you’re an African American, a Reggae or Soca music enthusiast, a wine lover, or part of the vibrant Caribbean diaspora, this festival promises to delight and captivate you in every way.

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