Form 485BPOS PROSHARES TRUST
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
September 17, 2021
7501 Wisconsin Avenue, Suite 1000E
Bethesda, Maryland 20814
Ladies and Gentlemen:
We are furnishing this opinion in connection with the proposed offer and sale by ProShares Trust, a Delaware statutory trust (the “Trust”), of shares of beneficial interest of ProShares On-Demand ETF (the “Shares”), pursuant to Post-Effective Amendment No. 232 on Form N-1A (the “Post-Effective Amendment”) under the Securities Act of 1933, as amended.
We are familiar with the actions taken by the Trustees of the Trust to authorize the issuance of the Shares. We have examined the Trust’s Certificate of Trust (as on file in the office of the Secretary of State of the State of Delaware), its Agreement and Declaration of Trust, as amended, its Bylaws and such other documents as we deemed necessary for the purposes of this opinion. We assume that upon sale of the Shares by the Trust the Trust will receive the net asset value thereof.
Based upon the foregoing, we are of the opinion that the Trust is authorized to issue an unlimited number of Shares, and that, when the Shares are issued and sold, they will be validly issued, fully paid and nonassessable by the Trust.
We consent to the filing of this opinion as an exhibit to the Post-Effective Amendment.
Very truly yours,
/s/ Ropes & Gray LLP
Ropes & Gray LLP
- Nasdaq scales record peak ahead of Apple, Amazon results
- Ford Motor (F) Stock Rallies After Smashing Estimates and Raising Guidance, Reinstated Dividend, Analysts Bulled-up
- Twilio (TWLO) Stock Plummets 12% on Decelerating Sales Growth, Weak Q4 EPS Outlook and COO Departure, Analysts Lower PTs but Remain Optimistic
- Tesla (TSLA) Stock Price Raised at Piper Sandler to $1,300 on Three Insights That are Overlooked
- Comcast (CMCSA) Stock Rallies on Strong Q3 Results, Analyst Expects Shares to Outperform
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Smith & Associates Real Estate Commissions Local Mural Titan Derek Donnelly for Public Art Project
- Trading of SPENN Technology A/S resumes on 4 November 2021
- Sammons Financial Group Among Top Companies in U.S. for Work-Life Balance
Create E-mail Alert Related CategoriesSEC Filings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!