ProShares Prepares to Launch Exclusive Short Ether Strategy ETF

ProShares has introduced a trio of Ether (ETH) futures exchange-traded funds (ETFs) in recent weeks, and the fund's latest offering — the Proshares Short Ether Strategy ETF (SETH) — is set to begin trading in November.

The ETF is scheduled to list on the NYSE Arca exchange and aims to achieve daily investment results that mirror the daily performance of the S&P CME Ether Futures Index, according to a filing on Friday, Oct. 13.

The currency will not directly create a shortage of Ether, but will look to capitalize on price spikes. On Friday, the price of ETH stood at approximately $1,540 – a roughly 6% decline over the past week.

ProShares said the ETF's registration statement will be effective on October 15 and plans to launch the fund in early November, according to Blockworks.

However, the three existing ProShares Ether Futures funds — including two that invest in Ether and Bitcoin (BTC) futures contracts — launched on Oct. 2, along with similar products from VanEck and Bitwise.

The US Securities and Exchange Commission has approved the Ether Futures ETF, which entered the market in October 2021, two years after the ProShares Bitcoin Strategy ETF launched the first Bitcoin Futures ETF.

Related: SEC Reportedly Won't Appeal Court Ruling on Grayscale Bitcoin ETF

ProShares continues to roll out the Bitcoin Futures ETF along with the Short Bitcoin Strategy ETF in June 2022. Currently, the ProShares Bitcoin Strategy ETF has approximately $850 million in assets, while the Short Bitcoin Strategy ETF has approximately $75 million.

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