ProShares Launches Innovative Short Ether ETF

ProShares Introduces Latest Ether ETF

In recent weeks, ProShares has unveiled three Ether (ETH) exchange-traded funds (ETFs) and the most recent one – the Proshares Short Ether Strategy ETF (SETH) – is slated to be released in November.

The ETF is expected to be listed on the NYSE Arca exchange and is designed to generate daily investment results that are the inverse of the daily S&P CME Ether Futures Index performance, as stated in the filing on Friday, Oct. 13.

The fund does not involve direct shorting of Ether but seeks to capitalize on price dips. As of Friday, ETH was trading at around $1,540, which translates to a 6% decline in the past week.

ProShares anticipates that the registration statement for the ETF will be effective on Oct. 15 and plans to launch the fund in early November, according to Blockworks.

Latest Crypto Currency News

In October 2021, ProShares released three Ether futures funds, alongside similar products from VanEck and Bitwise, including two that invest in both Ether and Bitcoin (BTC) futures contracts.

Almost two years after the ProShares Bitcoin Strategy ETF debuted on the market, the U.S. Securities and Exchange Commission approved Ether futures ETFs. The ProShares Bitcoin Strategy ETF has since accumulated around $850 million in assets, while the Short Bitcoin Strategy ETF has approximately $75 million.

The crypto currency market is currently experiencing a crisis, and it remains to be seen what will happen with the crypto market in the near future.