Proshares Plans to Launch a Special Ether Strategy ETF
Exciting times ahead as ProShares plans a new Ether fund, SETH, aiming to profit when Ether's price drops! Launching in November!
ProShares is launching a new Ether fund, named ProShares Short Ether Strategy ETF (SETH), and it's coming to the NYSE Arca exchange in November!
This new fund won't directly short (bet against) Ether but will try to make money when Ether's price goes down. Right now, Ether's price is about $1,540, which is 6% less than last week.
ProShares plans to officially introduce the fund in early November. Before this, they have also created other Ether future funds, which began on Oct. 2, and include investments in Ether and Bitcoin futures contracts.
The U.S. Securities and Exchange Commission gave a thumbs-up to Ether futures ETFs nearly two years after they said yes to the ProShares Bitcoin Strategy ETF, which started in October 2021. Right now, the ProShares Bitcoin Strategy ETF holds a big $850 million in assets, while the Short Bitcoin Strategy ETF has around $75 million.
