ProShares readies release of distinctive Short Ether Strategy ETF.

ProShares, a renowned asset manager, has recently launched a series of Ether (ETH) futures exchange-traded funds (ETFs). The latest addition to their lineup is the ProShares Short Ether Strategy ETF (SETH), which is scheduled to begin trading in November. The ETF will be listed on the NYSE Arca exchange and aims to mirror the inverse performance of the daily S&P CME Ether Futures Index.

Unlike traditional shorting, the ProShares Short Ether Strategy ETF does not directly engage in the shorting of Ether. Instead, it seeks to capitalize on price dips. Currently, the price of ETH stands at approximately $1,540, representing a 6% decline over the past week.

According to a filing made on October 13, ProShares anticipates that the registration statement for SETH will become effective on October 15. The fund is expected to be introduced in early November, as reported by Blockworks. It’s worth noting that ProShares had previously introduced three other Ether futures funds, two of which invest in both Ether and Bitcoin futures contracts. These funds made their debut on October 2, alongside similar products offered by VanEck and Bitwise.

The US Securities and Exchange Commission (SEC) granted approval for Ether futures ETFs two years after the introduction of the original Bitcoin futures ETF, the ProShares Bitcoin Strategy ETF (BITO), which entered the market in October 2021. ProShares has further expanded its range of Bitcoin futures ETFs with the introduction of the Short Bitcoin Strategy ETF (BITI) in June 2022. Currently, BITO has amassed approximately $850 million in assets, while BITI holds around $75 million.

Back in August, there were reports that the SEC might approve Ether futures ETFs in October. This news caused an 11% spike in ETH prices at that time. The introduction of these ETFs provides investors with additional avenues to gain exposure to the cryptocurrency market and capitalize on its volatility.

Overall, ProShares’ foray into the world of Ether futures ETFs is a significant development for the cryptocurrency industry. As more institutional investors seek exposure to digital assets, the introduction of regulated ETFs offers a regulated and easily accessible investment vehicle. The launch of the ProShares Short Ether Strategy ETF (SETH) in November will provide investors with a unique opportunity to take advantage of price movements in the Ether market.

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