ProShares, the wild child of the exchange-traded funds (ETF) world, is at it again with the launch of their latest creation: the Short Ether Strategy ETF, affectionately known as SETH. This new ETF, set to trade on the NYSE Arca, aims to capitalize on the rollercoaster ride that is Ether’s price.
SETH, like its ProShares siblings, will gain exposure to Ether through futures contracts. It’s a clever move by ProShares CEO Michael Sapir, who recognized the challenge of acquiring short exposure to ETH without breaking the bank. With SETH, investors can now profit from both the ups and downs of Ether’s price, all from the comfort of their traditional brokerage accounts.
But SETH is not alone in ProShares’ crypto ETF family. It joins the ranks of other ETFs linked to cryptocurrencies like Bitcoin and Ether. ProShares made waves in October 2021 with the launch of their Bitcoin Strategy ETF, one of the first Bitcoin-linked ETFs in the US. They followed it up with the Short Bitcoin Strategy ETF in June 2022, targeting those who wanted to bet against Bitcoin after its fall below $20,000.
ProShares’ crypto ETF lineup also includes the ProShares Ether Strategy ETF, Bitcoin and Ether Market Cap Weight Strategy ETF, and Bitcoin & Ether Equal Weight Strategy ETF. It’s a veritable smorgasbord of options for investors looking to dip their toes into the volatile world of cryptocurrencies.
– ProShares is launching the Short Ether Strategy ETF (SETH) on the NYSE Arca.
– SETH aims to profit from the volatility of Ether’s price.
– The ETF will gain exposure to Ether through futures contracts.
– ProShares now offers a range of crypto-linked ETFs, including ones for Bitcoin and Ether.
– Investors can now bet on both the rise and fall of Ether’s price through traditional brokerage accounts.