ProShares Launches Short Ether-Linked ETF
ProShares has launched a short Ether-linked ETF, SETH, on November 2. The ETF, set to start trading on the New York Stock Exchange’s Arca under the ticker symbol SETH, aims to provide investors with an opportunity to profit from the volatility of Ether’s price.
Similar to other ProShares crypto-linked ETFs, SETH seeks to obtain exposure through Ether futures contracts.
ProShares CEO Michael Sapir aims to address the challenge of acquiring short exposure to ETH, which can be onerous and expensive.
SETH joins ProShares’ series of other ETFs linked to cryptocurrencies like Bitcoin and Ether, including the Bitcoin Strategy ETF and the Short Bitcoin Strategy ETF.
(With inputs from Shikha Singh)
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