ProShares Launches ProShares Short Ether Strategy ETF (SETH)
Asset manager ProShares has introduced the ProShares Short Ether Strategy ETF (SETH), which allows investors to profit from declines in the price of ether. According to ProShares CEO Michael L. Sapir, SETH addresses the challenge of acquiring short exposure to ether, which can be both difficult and expensive. The launch of SETH expands ProShares’ offerings to provide investors with opportunities for profit in both rising and falling markets through a traditional brokerage account.
SETH Joins Crypto-Linked ProShares ETFs
It is important not to confuse SETH with sETH, a synthetic ether token enabled by the Synthetix protocol. SETH is part of a range of crypto-linked ProShares exchange-traded funds, including BITO, the first U.S. bitcoin-linked futures ETF launched in 2021, BITI, the first U.S. short bitcoin-linked ETF, EETH, the first U.S. ETF investing in ether futures, and BETH and BETE, two futures ETF products that focus on the blended performance of bitcoin and ether.
Market Mechanics of SETH
SETH is listed on the New York Stock Exchange and aims to deliver the inverse performance of the S&P CME Ether Futures Index on a daily basis. Like other ProShares funds, SETH achieves exposure through ether futures contracts.
Ether’s Performance
While ether has not experienced the same price rally as bitcoin and altcoins like solana, it has seen an increase of approximately 10% over the past 30 days. According to CoinGecko data, ether is currently trading at $1,825.
Hot Take: ProShares Expands Crypto ETF Offerings with SETH
ProShares continues to expand its range of crypto-linked exchange-traded funds with the launch of the ProShares Short Ether Strategy ETF (SETH). This new offering allows investors to profit from declines in the price of ether, addressing the challenge of acquiring short exposure to this cryptocurrency. With SETH, investors have the convenience of accessing these opportunities through a traditional brokerage account. Alongside other ProShares funds, such as BITO and EETH, SETH provides additional options for investors seeking exposure to cryptocurrencies within the ETF space.
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