ProShares prepares to launch unique Short Ether Strategy ETF

ProShares introduced a trio of Ethereum futures ETFs successful the caller weeks. Presently, the institution is gearing up to supply a distinctive offering.

ProShares' Short Ether Strategy ETF (SETH) from the money radical is poised to commence trading shortly, pursuing the debut of the archetypal Ethereum futures ETFs by astir 2 weeks.

SETH, scheduled for listing connected the NYSE Arca exchange, aims to execute regular concern outcomes that reflector the inverse of the regular S&P CME Ether Futures Index performance, arsenic indicated successful a filing made connected Friday, Oct. 13.

The money does not prosecute successful nonstop shorting of ether (ETH); rather, it seeks to capitalize connected imaginable declines successful the asset's value, arsenic stated successful the prospectus. On Friday, the terms of ETH stood astatine astir $1,540, reflecting a alteration of astir 6% implicit the past week.

Screenshot of the ProShares SETH filing     Source: SEC

ProShares anticipates that the registration connection for SETH volition go effectual connected Oct. 15 and plans to present the money successful aboriginal November, arsenic reported by Blockworks.

However, the 3 existing ProShares ether futures funds — including 2 that put successful some ether and bitcoin futures contracts — debuted connected Oct. 2 alongside akin products by VanEck and Bitwise.

The US Securities and Exchange Commission approved ether futures ETFs 2 years pursuing the instauration of the archetypal bitcoin futures ETF, the ProShares Bitcoin Strategy ETF (BITO), which entered the marketplace successful Oct. 2021.

Related: SEC reportedly won’t entreaty tribunal determination connected Grayscale Bitcoin ETF

ProShares continued its merchandise of bitcoin futures ETFs with the Short Bitcoin Strategy ETF (BITI) successful June 2022. As of now, BITO has accumulated astir $850 cardinal successful assets, portion BITI has astir $75 million.

In August, Cointelegraph reported that Ether futures ETFs may beryllium approved successful October, causing an 11% spike successful ETH prices astatine the time.

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