An Answer to an August Filing
Bloomberg Intelligence’s ETF Research Analyst, James Seyffart, has revealed that ProShares is set to launch a new short Ethereum Futures ETF. Trading for this ETF, known as $SETH, will begin in three days on October 16th.
Unlike the other long and traditional Ethereum futures ETFs, which received fast-tracked approval from the SEC, ProShares’ offering is proceeding as originally scheduled. It’s worth noting that this announcement wasn’t a sudden surprise as the ETF was filed alongside others back in August.
The surge in applications for Ethereum-based ETFs began when Volatility Shares initiated the trend with its filing on July 28th. Following suit, industry leaders like Bitwise Asset Management, Roundhill Financial, Van Eck, ProShares, and Grayscale Investments quickly joined the competition by submitting their own Ethereum futures applications on August 1st.
