ProShares, the largest issuer of inverse and leveraged exchange traded funds, said it plans to close the ProShares Ultra Australian Dollar (NYSEArca: GDAY).

GDAY, which debuted in July 2012, tracks the 200% daily performance of Australian dollar against the U.S. dollar.

“After the close of business on June 18, 2015, the fund will no longer accept creation orders. Trading in the fund on NYSE Arca will be suspended prior to market open on June 19, 2015. Fund holdings will be liquidated by June 19 or shortly thereafter. Beginning June 19, the fund will not be traded on NYSE Arca and there will be no secondary market for the shares. Once the fund is in the process of liquidating its portfolio, it will not be managed in accordance with its investment objective. Proceeds of the liquidation are scheduled to be distributed to shareholders on or about June 29, 2015,” according to a statement issued by ProShares.

The statement did not mention GDAY’s bearish counterpart, the ProShares UltraShort Australian Dollar (NYSEArca: CROC).

In 2014, approximately 80 ETFs closed while issuers brought nearly 205 new products to market. This year, nearly 30 U.S. ETFs have been closed. Roughly 90 new ETFs have come to market this year and the number will likely top 100 in the coming weeks. [Another Good Year for new ETFs]

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