ProShares Debuts Short Ether Strategy for Crypto Bears

Asset management company ProShares has launched a new crypto-linked ETF product for bearish traders.

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  • ProShares has launched an Ether ETF strategy for bearish crypto traders.
  • The fund has been listed on the New York Exchange.
  • ProShares CEO shared positive sentiments about the new fund.  

The World’s leading investment manager in crypto-linked ETFs, ProShares, has announced the official launch of a first-of-its-kind exchange-traded fund (ETF) that allows traders to take a bearish position on Ethereum.

An ETF for Bearish Traders

According to a press release dated November 2, ProShares has launched the world’s first short ether-linked ETF, allowing traders to profit from the decline of Ethereum’s price.

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Termed ProShares Short Ether Strategy ETF (SETH), the investment vehicle is tied to future contracts of Ether rather than the token’s spot price, delivering daily investment results that correspond to the inverse of the daily performance of its underlying benchmark – the S&P CME Ether Futures Index.

Based on this approach, if the Standard & Poor’s CME Ether Futures Index falls 1%, the fund will seek to return 1%.

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. “It offers investors opportunities to profit both on days when ether increases and when it drops—all through the convenience of a traditional brokerage account.”

Like other crypto-focused ETFs by ProShares, SETH is designed to obtain exposure through Ether futures contracts.

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SETH is listed on the New York Exchange and adds to ProShares’ comprehensive lineup of crypto-linked ETFs.

ProShares’ Footprint in Crypto-Linked ETFs

Other ProShares’ crypto-linked ETFs include BITI, the first U.S. short bitcoin-linked ETF with about $74 million in assets, and BITO, the first U.S. bitcoin-linked ETF, which emerged as the largest crypto-focused ETF globally.

Per the press release, ProShares offers one of the industry’s largest ETF lineups and, along with its partners, now manages over $60 billion in assets.  

Read how ProShares’ BITO ETF experienced the largest inflow in a year:

ProShares Bitcoin ETF Tops $1B Amid Flurry of Filings

Stay updated on how spot Bitcoin ETF enthusiasm is driving crypto inflows:

Crypto Inflows Skyrocket Amid Bitcoin ETF Optimism

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

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Brian Danga

Brian Danga, a Kenyan crypto reporter, is dedicated to delivering breaking news and updates from the cryptocurrency world. With a background as a Web3 writer and project manager, he recognizes the importance of unbiased reporting. Holding an LLB degree from the University of Nairobi, Brian's analytical skills contribute to his accurate news reporting. His personal interests include cooking, watching documentaries, reading, and engaging in intellectual discussions.