ProShares, a significant issuer of exchange-traded funds (ETF), introduced the launch of the brief Ether-linked ETF on Nov. 2.
ProShares’s new Quick Ether Technique ETF is ready to begin buying and selling on the New York Inventory Alternate’s Arca beneath the ticker image SETH and is designed to offer buyers with a chance to revenue from the volatility of Ether’s (ETH) worth.
Much like different ProShares crypto-linked ETFs, SETH seeks to acquire publicity by way of Ether futures contracts, the announcement notes.
In response to ProShares CEO Michael Sapir, SETH goals to deal with the problem of buying brief publicity to ETH, “which will be onerous and costly.”
“With at the moment’s launch of SETH, ProShares now provides buyers alternatives to revenue each on days when Ether will increase and when it drops — all by way of the comfort of a conventional brokerage account,” the CEO famous.
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SETH joins ProShares’ collection of different ETFs linked to cryptocurrencies like Bitcoin (BTC) and Ether. In October 2021, ProShares launched its Bitcoin Technique ETF, one of many first Bitcoin-linked ETFs in the US. The agency subsequently launched the Quick Bitcoin Technique ETF in June 2022, geared toward shorting Bitcoin following its drop beneath $20,000.
Different ProShares’ crypto ETFs embody the ProShares Ether Technique ETF, Bitcoin and Ether Market Cap Weight Technique ETF and Bitcoin & Ether Equal Weight Technique ETF.
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