ProShares to enter the market with three Ether ETFs

The U.S. Securities and Exchange Commission (SEC) has officially certified approval for the listing and registering three Ether exchange-traded fund (ETF) series for ProShares, a prominent player in the ETF market. ProShares is scheduled to make a significant impact on the market by introducing the three newly approved Ether ETFs on Monday, Oct. 2. 

In a recent document issued by the Securities and Exchange Commission (SEC) and shared by the Bloomberg analyst, Eric Balchunas, it was revealed that the three approved series of ProShares Trust consist of the Ether Strategy ETF, the Bitcoin and Ether Market Cap Weight Strategy ETF, and the Bitcoin and Ether Equal Weight Strategy ETF. Each of these ETFs is priced at 95 base points (bps).

With this development, ProShares has entered the market, joining Bitwise and VanEck. ProShares offers two ETFs at 85 basis points (bps), while another ETF is available at 66 bps. Now, the total number of ETFs in the market stands at six. These ETFs are poised to compete for their fair share in the Monday market.

However, a worthy note is the fees. Eric’s Balchunas analyzed citing a written statement on the tax rate that “VanEck’s ETF is structured as a C-Corp (like many MLP ETFs) which means the fund will be taxed at a 21% rate, this is something that isn’t in the fee but is arguably a cost nonetheless.”

The entry of ProShares’ three ETF series provides investors with a diverse and accessible option to participate in the digital assets market. This significant development in the ETF space not only demonstrates the increasing acceptance of cryptocurrency but also highlights its growing integration within the global financial sector.

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