ProShares Launches Short Ether Futures ETF

ProShares, a leading asset management company, has launched a new ETF called the ProShares Short Ether Strategy ETF (SETH).

This ETF is designed for investors looking to profit from declines in the price of ether.

According to ProShares CEO Michael L. Sapir, SETH addresses the challenge of acquiring short exposure to ether, which can be costly and burdensome.

He also stated that by adding SETH to their crypto-linked ETF offerings, ProShares now gives investors the opportunity to profit from both price increases and decreases in ether, all through a traditional brokerage account.

It is important to note that SETH is not to be confused with sETH, a synthetic ether token enabled by the Synthetix protocol.

SETH joins a range of other crypto-linked ETFs offered by ProShares, including BITO, BITI, EETH, BETH, and BETE, which offer exposure to bitcoin and ether through futures contracts.

Listed on the New York Stock Exchange, SETH aims to provide the inverse of the daily performance of the S&P CME Ether Futures Index. Similar to the other ProShares ETFs, SETH achieves exposure through ether futures contracts.