ProShares has launched SETH, designed to offer investors the opportunity to profit from ether price declines.
Asset manager ProShares has launched the ProShares Short Ether Strategy ETF , designed to offer investors the opportunity to profit from ether price declines.
"SETH is designed to address the challenge of acquiring short exposure to ether, which can be onerous and expensive," ProShares CEO Michael L. Sapir said in a statement. "With today’s launch of SETH, ProShares now offers investors opportunities to profit both on days when ether increases and when it drops — all through the convenience of a traditional brokerage account," he added.
Not to be confused with sETH — a synthetic ether token enabled by the Synthetix protocol — SETH joins a range of crypto-linked ProShares exchange-traded funds. This includes BITO, the first U.S. bitcoin-linked futures ETF launched in 2021, BITI, the first U.S. short bitcoin-linked ETF and EETH, the first U.S. ETF investing in ether futures.
Though ether has lagged behind the recent price rally in bitcoin and altcoins like solana, the second largest cryptocurrency by market cap is up around 10% over the last 30 days. Ether is currently trading at $1,825, according to CoinGecko data. © 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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