ProShares has announced the launch of a new Short Ether Strategy ETF, which will begin trading on the NYSE Arca under the ticker symbol SETH. The ETF is designed to allow investors to profit from the volatility of Ether’s price. Similar to other ProShares crypto-linked ETFs, SETH will obtain exposure through Ether futures contracts. ProShares CEO Michael Sapir stated that SETH aims to address the challenge of acquiring short exposure to ETH, which can be difficult and expensive. This new ETF joins ProShares’ series of other ETFs linked to cryptocurrencies like Bitcoin and Ether. In October 2021, ProShares launched its Bitcoin Strategy ETF, followed by the Short Bitcoin Strategy ETF in June 2022. Other ProShares crypto ETFs include the ProShares Ether Strategy ETF, Bitcoin and Ether Market Cap Weight Strategy ETF, and Bitcoin & Ether Equal Weight Strategy ETF.
