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ProShares has captured investor attention today with its recent announcement to launch two new <a href="https://coingape.com/vaneck-ceo-hails-sec-ethereum-etf-approval-as-historic-crypto-shift/" target="_blank" rel="noopener noreferrer nofollow">Ethereum-linked ETFs</a>. Notably, the leading ETF issuer will launch ProShares Ultra Ether ETF (ETHT) aiming for 2x daily returns on Ether, while the ProShares UltraShort Ether ETF (ETHD) targets -2x daily returns, marking the first U.S. product of its kind.
Meanwhile, as per the announcement, both ETFs are set to list on the New York Stock Exchange (NYSE) on Friday, June 7.
<h2 id="proshares-to-launch-two-ethereum-etfs">ProShares To Launch Two Ethereum ETFs</h2>
In a recent press release, ProShares revealed its plans for the new ETFs, highlighting the firm’s commitment to expanding its crypto-linked product lineup. Notably, Michael L. Sapir, <a rel="noopener noreferrer nofollow" href="https://www.proshares.com/press-releases/proshares-to-launch-etfs-targeting-2x-and--2x-daily-ether-returns" target="_blank">ProShares CEO</a>, expressed enthusiasm about the launch, stating,
<blockquote>
 “We are excited to introduce ETHT and ETHD. These new ETFs are designed to address the challenge of acquiring leveraged or short exposure to ether, which can be onerous and expensive.”
</blockquote>
Meanwhile, ETHT will provide investors with an opportunity to pursue magnified Ether returns with a smaller capital outlay. On the other hand, ETHD offers a tool for investors seeking to profit from drops in Ether prices or hedge their existing Ether exposure.
It’s worth noting that both products are designed to enhance accessibility, convenience, and efficiency for investors interested in leveraged or short positions on ether. Besides, <a href="https://coingape.com/proshares-introduces-first-bitcoin-etf-to-target-2x-daily-btc-return/" target="_blank" rel="noopener noreferrer nofollow">ProShares’</a> pioneering role in the ETF market is well-established.
The firm introduced the first U.S. Bitcoin-linked ETF (BITO) in October 2021, followed by the first short Bitcoin-linked ETF (BITI). ProShares also launched the first U.S. ETF targeting Ether’s performance (EETH) and the first short ether-linked ETF (SETH). These innovations have solidified ProShares’ reputation as a leader in geared ETF investing and a trailblazer in crypto-linked ETFs.
Also Read: <a href="https://coingape.com/3-trending-altcoins-set-to-rally-as-binance-listing-these-pairs-next/" target="_blank" rel="noopener noreferrer nofollow">3 Trending Altcoins Set To Rally As Binance Listing These Pairs Next</a>
<h2 id="crypto-etps-gains-traction">Crypto ETPs Gains Traction</h2>
The announcement of ETHT and ETHD comes at a time when interest in <a href="https://coingape.com/breaking-thailand-sec-approves-first-spot-bitcoin-etf/" target="_blank" rel="noopener noreferrer nofollow">crypto-linked investment products</a> is surging. By offering these new ETFs, ProShares aims to cater to a growing demand among investors for more sophisticated tools to manage their exposure to the <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrency</a> sector.
Notably, the firm’s previous successes with <a href="https://coingape.com/glossary/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin </a>and Ether ETFs suggest a strong potential for these new offerings to attract significant interest. Although the press release said that the registration statements for ETHT and ETHD are not yet effective, and shares cannot be sold until SEC approval, the anticipation is palpable.
These products are expected to provide a new level of flexibility and strategy for investors, enabling them to navigate the volatile crypto market with greater precision. Meanwhile, the Bitcoin ETF has attracted $2.4 billion after noting consecutive inflows for the last 15 days, Senior Bloomberg ETF analyst Eric Balchunas said in a recent X post.
Also Read: <a href="https://coingape.com/breaking-thailand-sec-approves-first-spot-bitcoin-etf/" target="_blank" rel="noopener noreferrer nofollow">Thailand SEC Approves First Spot Bitcoin ETF</a>
The post <a href="https://coingape.com/proshares-to-launch-two-new-ethereum-etf-nyse/" rel="noopener noreferrer nofollow">ProShares To Launch Two New Ethereum ETFs On NYSE</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

ProShares To Launch Two New Ethereum ETFs On NYSE

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