ProShares, a significant issuer of exchange-traded funds (ETF), announced the launch of the short Ether-linked ETF on Nov. 2.
ProShares’s new Short Ether Technique ETF is about to begin buying and selling on the New York Inventory Trade’s Arca beneath the ticker image SETH and is designed to supply traders with a possibility to revenue from the volatility of Ether’s (ETH) worth.
Just like different ProShares crypto-linked ETFs, SETH seeks to acquire publicity by way of Ether futures contracts, the announcement notes.
In accordance with ProShares CEO Michael Sapir, SETH goals to handle the problem of buying short publicity to ETH, “which may be onerous and costly.”
“With right now’s launch of SETH, ProShares now provides traders alternatives to revenue each on days when Ether will increase and when it drops — all by way of the comfort of a standard brokerage account,” the CEO famous.
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SETH joins ProShares’ collection of different ETFs linked to cryptocurrencies like Bitcoin (BTC) and Ether. In October 2021, ProShares launched its Bitcoin Strategy ETF, one of the primary Bitcoin-linked ETFs in the US. The agency subsequently launched the Short Bitcoin Strategy ETF in June 2022, geared toward shorting Bitcoin following its drop beneath $20,000.
Different ProShares’ crypto ETFs embrace the ProShares Ether Technique ETF, Bitcoin and Ether Market Cap Weight Technique ETF and Bitcoin & Ether Equal Weight Technique ETF.
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