Connect with us


Proshares introduces new Ether short ETF



Proshares have recently filed for a new ETH short ETF. The new exchange-traded fund called Proshares Short Ether Strategy ETF (SETH) is set to be listed on the NYSE Arca exchange.

The registration filing was submitted to the U.S. Securities and Exchange Commission on October 13.

The fund plans to mirror the daily investment outcomes of the S&P CME Ether futures index. When the index falls on a particular day, the fund should profit roughly equal to what the index loses if it is successful in reaching its investment goal.

On the other hand, if the index increases on a particular day, it ought to lose roughly the same amount as the index gains. The fund does not aim to attain the “Daily Target,” which is the inverse (-1x) of the index’s daily performance for any duration other than a single day.

The fund does not directly short Ethereum. Instead, the fund seeks to benefit from drops in the price of Ethereum.

ProShares currently has one of the biggest ETF portfolios, with assets exceeding $65 billion. There are three existing Ether futures funds, and there are two that invest in both Bitcoin and Ethereum futures contracts, which they launched on October 2. They expect that the registration statement of the recent filing will become available on October 15.

The SEC had earlier approved their Bitcoin futures ETF, ProShares Bitcoin Strategy ETF, in October 2021. In June 2022, ProShares released the Short Bitcoin Strategy ETF as part of their ongoing release of Bitcoin futures ETFs. At present, the assets of the ProShares Bitcoin Strategy ETF total over $850 million, while the Short Bitcoin Strategy ETF has about $75 million.

According to Blockworks, ProShares expects the ETF’s registration statement to go into effect on October 15 and intends to launch the fund in early November.

Read more

Avalanche Collaborate with OpenZeppelin Defender to Boost Blockchain Security

Ferrari now accepts crypto, looks to expand it to Europe & others 

0 0 votes
Article Rating
Click to comment
0 0 votes
Article Rating
Notify of

Inline Feedbacks
View all comments

Latest Episode on Inside Blockchain

Crypto News Update

Crypto Street



ALL Sections

Recent Posts

Would love your thoughts, please comment.x

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

CryptoTvplus - The Leading Blockchain Media Firm will use the information you provide on this form to be in touch with you and to provide updates and marketing.