---
title: "ProShares Launches First-Ever 2x Platinum, Palladium, Copper ETFs, Expands Leveraged Commodity Lineup Amid Metals Boom"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/283669303.md"
description: "ProShares has launched the first-ever 2x leveraged ETFs for platinum, palladium, and copper, expanding its commodity offerings amid rising demand for metals. The new funds, ProShares Ultra Platinum K-1 Free ETF (UPLT), ProShares Ultra Palladium K-1 Free ETF (UPAL), and ProShares Ultra Copper K-1 Free ETF (UCOP), aim to deliver twice the daily returns of their respective commodities. These ETFs are designed for tactical investors and are K-1 free, enhancing tax efficiency. ProShares now has 11 geared commodity ETFs, solidifying its status as the largest provider of leveraged ETFs globally."
datetime: "2026-04-22T12:38:14.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/283669303.md)
  - [en](https://longbridge.com/en/news/283669303.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/283669303.md)
---

# ProShares Launches First-Ever 2x Platinum, Palladium, Copper ETFs, Expands Leveraged Commodity Lineup Amid Metals Boom

**ProShares** is expanding its footprint in leveraged commodities with the launch of three new ETFs targeting amplified exposure to key industrial and precious metals. The lineup includes the ETFs designed to deliver 2x the daily performance of platinum and palladium, alongside a new fund offering leveraged exposure to copper—an increasingly strategic metal tied to global electrification and infrastructure demand.

The new products are:

-   **ProShares Ultra Platinum K-1 Free ETF** (NYSE:UPLT)

-   **ProShares Ultra Palladium K-1 Free ETF** (NYSE:UPAL)

-   **ProShares Ultra Copper K-1 Free ETF** (NYSE:UCOP)

These funds aim to deliver twice the daily returns of their respective underlying commodities. CEO **Michael L. Sapir** said the launch marks the first time investors can magnify platinum and palladium returns through an ETF structure.

**Key Features:**

-   **First-of-its-kind exposure:** UPLT and UPAL are the only ETFs offering 2x daily leveraged access to platinum and palladium
-   **Industrial metal focus:** UCOP provides amplified exposure to copper, a key beneficiary of energy transition and infrastructure trends
-   **Tax efficiency:** All three ETFs are K-1 free, issuing standard Form 1099s instead
-   **Short-term trading tools:** Designed for tactical investors seeking magnified daily returns, not long-term buy-and-hold strategies

With these additions, ProShares now offers 11 geared commodity ETFs, reinforcing its position as the largest provider of leveraged ETFs globally, with more than 110 products and over $62 billion in assets.

_Photo: Shutterstock_

### Related Stocks

- [UPAL.US](https://longbridge.com/en/quote/UPAL.US.md)
- [UCOP.US](https://longbridge.com/en/quote/UCOP.US.md)
- [UPLT.US](https://longbridge.com/en/quote/UPLT.US.md)
- [SSTK.US](https://longbridge.com/en/quote/SSTK.US.md)

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