ProShares’ Short Ether Strategy ETF is about to hit the trading floor, riding the wave of approval for the first Ethereum futures ETFs. This latest offering from ProShares aims to mirror the inverse performance of the daily S&P CME Ether Futures Index. While it doesn’t directly short Ether, it looks to capitalize on price dips. With the price of ETH currently at around $1,540, experiencing a 6% decrease over the past week, the timing seems ripe for this new ETF.
The registration statement for the ProShares Short Ether Strategy ETF is expected to become effective on October 15th, with plans to launch the fund in early November. This comes after the successful debut of three other ProShares Ether futures funds, including two that invest in both Ether and Bitcoin futures contracts. The approval of Ether futures ETFs by the U.S. Securities and Exchange Commission comes almost two years after the introduction of the first Bitcoin futures ETF.
In terms of ProShares’ Bitcoin futures ETFs, the ProShares Bitcoin Strategy ETF has amassed around $850 million in assets, while the Short Bitcoin Strategy ETF holds approximately $75 million. This shows a promising start for these funds, and it will be interesting to see how the Short Ether Strategy ETF performs in comparison.
In summary:
– ProShares is set to launch the Short Ether Strategy ETF, following the approval of Ethereum futures ETFs.
– The ETF aims to mirror the inverse performance of the daily S&P CME Ether Futures Index.
– It does not directly short Ether but looks to capitalize on price dips.
– The registration statement is expected to become effective on October 15th, with plans for an early November launch.
– ProShares’ Bitcoin futures ETFs have seen success, with the Bitcoin Strategy ETF accumulating around $850 million in assets and the Short Bitcoin Strategy ETF holding approximately $75 million.
