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ProShares Launches Short Ether-linked ETF

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ProShares, a prominent ETF issuer, has introduced a new exchange-traded fund (ETF) called the Short Ether Strategy ETF, with the ticker symbol SETH. This ETF is designed to allow investors to profit from the volatility of Ether (ETH). Similar to other ProShares crypto-linked ETFs, SETH will gain exposure through Ether futures contracts. ProShares CEO Michael Sapir emphasized that SETH addresses the challenge of obtaining short exposure to ETH, which can be both challenging and costly. This ETF joins ProShares' existing lineup of cryptocurrency-related ETFs, including ones linked to Bitcoin and Ether. In 2021, ProShares launched its Bitcoin Strategy ETF, one of the first Bitcoin-linked ETFs in the United States, and later introduced the Short Bitcoin Strategy ETF in 2022 for shorting Bitcoin.