ProShares Launches World’s First Short Ether-Linked ETF
Nov 02, 2023
SETH Provides Investors With Opportunity to Profit on Days When Ether Drops
BETHESDA, Md. -- ProShares, the global leader in crypto-linked ETFs, announced today the launch of ProShares Short Ether Strategy ETF (SETH), the world’s first short ether-linked ETF. SETH provides investors an opportunity to profit from declines in the price of ether.
“SETH is designed to address the challenge of acquiring short exposure to ether, which can be onerous and expensive,” said ProShares CEO Michael L. Sapir. “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,” Mr. Sapir added.
SETH joins ProShares’ comprehensive lineup of crypto-linked ETFs. In 2021, ProShares launched BITO, the first U.S. bitcoin-linked ETF, which has become the largest crypto-linked ETF in the world. Subsequently, ProShares launched BITI, the first U.S. short bitcoin-linked ETF; EETH, the first U.S. ETF that targets the performance of ether; and two ETFs that target the blended performance of bitcoin and ether, BETH and BETE, which provide market cap-weighted and equal-weighted exposure, respectively.
SETH, listed on the New York Stock Exchange, is designed to deliver the inverse (opposite) of the daily performance of the S&P CME Ether Futures Index. SETH, like other ProShares crypto-linked ETFs, seeks to obtain exposure through ether futures contracts.
ProShares has been at the forefront of the ETF revolution since 2006. ProShares offers one of the largest lineups of ETFs and, along with its affiliates, now manages over $60 billion in assets. The company is a leader in strategies such as crypto-linked, dividend growth, and geared (leveraged and inverse) ETF investing. ProShares continues to innovate with products that provide strategic and tactical opportunities for investors to manage risk and enhance returns.