Introducing ProShares' Groundbreaking Short Ether-Linked ETF

Bethesda-based ProShares Launches World’s First Short Ether-Linked ETF

Bethesda-based financial giant, ProShares, has once again made history in the crypto-linked ETF space with the introduction of the world’s first short ether-linked ETF, called ProShares Short Ether Strategy ETF (SETH). This innovative ETF provides investors with a profitable avenue on days when the value of Ether declines. The announcement, made on November 2, 2023, solidifies ProShares’ position as a trailblazer in the crypto-linked ETF market.

SETH Simplifies Short Exposure to Ether

SETH is designed to simplify the process of acquiring short exposure to ether, which was previously complex and expensive. ProShares CEO, Michael L. Sapir, explained that SETH offers investors the opportunity to profit from both upward and downward movements in ether prices through a conventional brokerage account. This new ETF not only expands ProShares’ range of crypto-focused offerings but also meets the market demand for straightforward short exposure to ether.

A Robust Lineup of Crypto-Linked ETFs

This is not ProShares’ first venture into the crypto space. The company made waves by launching the first U.S. bitcoin-linked ETF, BITO, in 2021, which quickly became the largest crypto-linked ETF globally. Following BITO, ProShares introduced BITI (the first U.S. short bitcoin-linked ETF), EETH (targeting ether’s performance), and two blended bitcoin and ether performance-oriented ETFs: BETH and BETE. The addition of SETH further strengthens ProShares’ lineup of crypto-linked ETFs, showcasing their commitment to meeting evolving investor preferences in the cryptocurrency industry.

SETH’s Listing and Structure

SETH is listed on the New York Stock Exchange and is designed to provide the inverse of the daily performance of the S&P CME Ether Futures Index. Like its sibling ETFs, SETH achieves exposure through ether futures contracts. This approach highlights ProShares’ strategy of using futures contracts to offer investors a structured pathway to engage with the cryptocurrency market, mitigating some challenges associated with direct cryptocurrency investments.

ProShares: A Vanguard in ETF Innovation

ProShares has been at the forefront of the ETF revolution since its inception in 2006. Alongside its affiliates, the firm manages over $60 billion in assets and offers a wide range of ETF strategies, including crypto-linked, dividend growth, and geared (leveraged and inverse) ETF investing. The launch of SETH exemplifies ProShares’ tradition of innovation, providing investors with tactical opportunities to manage risk and enhance returns in a volatile market.

Hot Take: ProShares Leads the Way with Short Ether-Linked ETF

Bethesda-based financial giant ProShares continues to push boundaries in the crypto-linked ETF landscape with the world’s first short ether-linked ETF, SETH. With this groundbreaking offering, investors now have a convenient and profitable way to capitalize on downward movements in Ether’s value. ProShares’ impressive lineup of crypto-linked ETFs demonstrates their commitment to meeting market demands and catering to evolving investor preferences. By simplifying short exposure to ether and leveraging futures contracts, ProShares aims to provide investors with structured pathways for engaging with cryptocurrencies while managing potential challenges. As a pioneer in the ETF industry, ProShares remains at the forefront of innovation, empowering investors to navigate the volatile cryptocurrency market.