Financial

Bethesda: ProShares Ends Remote Working as New Headquarters Office Opens

MBS Staff
The Wilson and The Elm at 7272 Wisconsin Avenue in downtown Bethesda. Anchored by Walker & Dunlop, Fox 5 D.C., ProShares, Enviva.

The Wilson and The Elm at 7272 Wisconsin Avenue in downtown Bethesda. Anchored by Walker & Dunlop, Fox 5 D.C., ProShares, Enviva.

ProShares announced employees will fully return to the office this week after employees spent two years of working remotely.

The news comes as the financial ETF issuer moves into its three-level space at the top of The Wilson office tower in downtown Bethesda, Maryland. ProShares leased 54,000 square feet (about half the area of a Manhattan city block) and customized the build-out of space starting from the 21st floor. It includes a central atrium with connecting stairs.  

 “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.

The new address at 7272 Wisconsin Avenue is only a block away from its former headquarters in the B.F. Saul twin towers at 7501 Wisconsin Avenue. The Wilson was developed by Carr Properties and is fully leased to other high-profile tenants, including WTTG Fox 5 DC and affiliates, and sustainable wood pellets fuel producer Eniva (NASDAQ: EVA).

Late last year, ProShares was the first company in the United States to release a Bitcoin ETF. Called BITO, the ETF shattered expectations and broke several records amassing more than $1 billion in investment in two days. Soon after the company launched an ETF linked to the Metaverse called VERS.  

It was revealed this week that the company intends to launch another Bitcoin futures ETF. ProShares filed for a new Short Bitcoin Strategy Exchange-Traded Fund with the Securities and Exchange Commission (SEC) that could be traded under the ticker symbol $FUD or $NGMI if approved by the Commission. The ETF would increase in value if the price of Bitcoin falls.

The company has doubled in size in just three years and controls $70 billion in assets under management (AUM). 

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