Michael Sapir

Co-founder of ProShares

Michael Sapir is the co-founder and CEO of ProShares, a Maryland-based asset management company that oversees more than $68 billion in assets. He is a pioneer and innovator in the exchange-traded fund (ETF) industry, having launched the first Bitcoin-linked ETF in the United States, BITO, in October 2021. BITO tracks Bitcoin futures instead of holding the cryptocurrency itself, offering investors greater protection and convenience.

Sapir’s Bitcoin ETF tapped into pent-up demand from investors who want exposure to cryptocurrency without the hassle of mining it or storing it. It took just two days for the fund to amass more than $1 billion, the fastest that any ETF has reached the milestone. Sapir also introduced a short-Bitcoin futures ETF in June 2022, which tracks the inverse behavior of the S&P CME Bitcoin Futures Index.

Sapir is a visionary leader who has helped shape the future of crypto investing with his groundbreaking products.