A leading provider of crypto-linked ETFs, ProShares, has introduced a new ETF, the ProShares Short Ether Strategy ETF (SETH), on the New York Stock Exchange (NYSE) Arca.
SETH allows investors to capitalize on Ether’s price volatility. Similar to other ProShares ETFs, SETH gains exposure to Ether through futures contracts, offering a more convenient and cost-effective method to speculate on ETH’s price fluctuations.
ProShares’ CEO, Michael Sapir, said, “With today’s launch of SETH, ProShares now offers investors opportunities to profit both on days when Ether increases and when it drops — all through the convenience of a traditional brokerage account.”
In October 2021, ProShares introduced the first Bitcoin Strategy ETF in the United States, and in June 2022, they launched the Short Bitcoin Strategy ETF for betting against Bitcoin’s price when it dropped below $20,000.
ProShares also offers a range of other crypto ETFs, including the ProShares Ether Strategy ETF, the Bitcoin and Ether Market Cap Weight Strategy ETF, and the Bitcoin & Ether Equal Weight Strategy ETF.