ProShares Introduces Short Ethereum Strategy ETF
ProShares, a leading issuer of exchange-traded funds (ETFs), has expanded its offerings with the launch of the ProShares Short Ether Strategy ETF (SETH). This new ETF allows investors to profit from declines in the price of Ethereum, the second largest cryptocurrency.
The asset manager believes that SETH provides an opportunity for investors to make profits on both upward and downward price movements of Ether. ProShares has been actively entering the crypto market, having recently launched its Ethereum futures ETF as well.
How ProShares Short Ether Strategy ETF Works
The ProShares Short Ether Strategy ETF, listed on the New York Stock Exchange, aims to deliver the opposite daily performance of the S&P CME Ether Futures Index. Like other ProShares crypto-related ETFs, SETH gains exposure to Ethereum through futures contracts.
Success of ProShares in Crypto-Linked ETFs
ProShares has achieved significant success in its ventures by being one of the first movers in launching crypto-related funds. The ProShares Bitcoin Strategy ETF (BITO) and the ProShares Short Bitcoin Strategy ETF (BITI) are currently two of the largest Bitcoin ETFs with $1.1 billion and $80 million assets under management (AuM) respectively.
In addition to SETH, ProShares offers other crypto-linked ETFs such as ProShares Ether Strategy ETF (EETH), which targets the performance of Ethereum, and Bitcoin & Ether Market Cap Weight Strategy ETF and Bitcoin & Ether Equal Weight Strategy ETF that track both Bitcoin and Ether.
Hot Take: ProShares Continues to Lead in Crypto-Linked ETFs
With the introduction of the ProShares Short Ether Strategy ETF, ProShares solidifies its position as a major player in the crypto-linked ETF space. By expanding its offerings to include Ethereum-related ETFs, ProShares provides investors with more options to capitalize on the volatility of the cryptocurrency market. The success of its Bitcoin ETFs demonstrates ProShares’ ability to attract significant assets under management and indicates strong investor interest in crypto-based investment products.
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