ProShares Launches First Short Ether ETF Amid Crypto Volatility
ProShares , a major issuer of exchange-traded funds ( ETF s), has introduced the first ETF designed to short Ether as the cryptocurrency market experiences heightened volatility. The ProShares Short Ether Strategy ETF (SETH) began trading on the New York Stock Exchange on November 2nd. It aims to allow investors to profit from declines in ETH’s price through exposure to ETH futures contracts. “SETH is designed to address the challenge of acquiring short exposure to ether, which can be onerous and expensive,” said ProShares CEO Michael Sapir in announcing the new fund. Also Read: US Government Arrests Founders of SafeMoon Crypto Token ProShares launch comes amidst market volatility The launch comes amid whipsawing prices across crypto markets in 2023. ProShares said the fund offers a convenient way to bet against further ETH drops within traditional brokerage accounts. ProShares has rolled out other crypto-linked ETF s. These include funds that tr...