ProShares, a U.S.-based ETF provider, has launched the ProShares Short Ether Strategy ETF (SETH), which allows investors to profit from drops in the price of Ethereum (ETH).
ProShares, a U.S.-based ETF provider, has launched the ProShares Short Ether Strategy ETF (SETH), which allows investors to profit from drops in the price of Ethereum (ETH). SETH, which will be traded on the Arca platform of the New York Stock Exchange, intends to achieve the inverse performance of its underlying benchmark, the Standard & Poor's CME Ether Futures Index.
The summary prospectus for the ETF informs investors that if the index rises, they will lose money, emphasizing that gaining short exposure is an aggressive investment strategy. At the time of writing, Ethereum was trading at $1,816 per coin, up 1.5% on the day.
Other crypto-linked ETFs, such as a Bitcoin short ETF, have also been introduced by ProShares. The company emphasizes the benefits of ETFs, such as regulated trading, transparency, and compliance with typical ETF laws.
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