ProShares UltraShort Australian Dollar
CROC
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- ProShares Trust II - ProShares UltraShort Australian Dollar (CROC) is an exchange-traded fund that seeks to provide two times the inverse (-2x) of the daily performance of the Australian Dollar spot price versus the U.S. Dollar. The fund invests in currency markets through short positions and derivatives, including futures contracts on the Australian Dollar against the USD. Launched on July 17, 2012, and domiciled in the United States, it is managed by ProFund Advisors LLC and ProShare Advisors LLC under ProShares Capital Management LLC. The ETF's core investment strategy utilizes futures contracts and related derivatives to achieve leveraged inverse exposure to AUD/USD movements, targeting sophisticated investors seeking short-term tactical opportunities in foreign exchange markets. It primarily serves traders and institutions focused on currency hedging or speculation in the Australian Dollar, with operations conducted through U.S. exchanges such as NYSE Arca. ProShares Trust II, headquartered in Bethesda, Maryland, offers this product as part of its broader lineup of leveraged and inverse ETFs spanning commodities, currencies, volatility, and equities. In a significant operational change, ProShares announced the liquidation and closure of the CROC ETF on March 11, 2022, with the last day for creation and redemption orders on May 2, 2022, and trading halted prior to market open on May 12, 2022. Shareholders received cash redemptions at net asset value on or about May 12, 2022, marking the fund's defunct status. No recent partnerships, acquisitions, funding rounds, or new product launches were identified for CROC following its inception, as its lifecycle concluded with this strategic delisting amid ProShares' ongoing review of its ETF offerings.