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ProShares ETF: Betting on Ether’s Decline

Innovation by ProShares: An ETF to Bet on Ether’s Decline

ProShares has launched an inverse ETF tied to Ether, symbolized by SETH.

SETH provides exposure to Ether futures contracts, allowing investors to profit from its price declines.

This ETF joins ProShares’ existing range of products related to Bitcoin and Ethereum.

On November 2nd, ProShares announced the launch of its Short Ether Strategy ETF. Traded under the symbol SETH on the NYSE Arca, this ETF enables investors to speculate on the decline of Ether’s price. Focusing on Ether futures contracts, SETH is designed to meet the needs of investors seeking to benefit from the volatility of this cryptocurrency, similar to other ProShares ETFs linked to crypto assets.

A Solution for Investors Seeking Inverse Exposure

Michael Sapir, CEO of ProShares, emphasizes that SETH simplifies the process of obtaining inverse exposure to ETH, which can be complicated and costly.

With the launch of SETH today, ProShares now offers investors opportunities to profit on days when Ether appreciates as well as days when its price drops, all through a traditional brokerage account.

Michael Sapir

A Diversified Portfolio of Crypto ETFs at ProShares

SETH joins ProShares’ arsenal, which already includes several ETFs linked to cryptocurrencies, including Bitcoin and Ether. In October 2021, ProShares launched the Bitcoin Strategy ETF, one of the first Bitcoin ETFs in the United States. The firm later introduced the Short Bitcoin Strategy ETF in June 2022, aimed at taking bearish positions on Bitcoin after its drop below $20,000.

ProShares’ other crypto ETFs include the ProShares Ether Strategy ETF, the Bitcoin and Ether Market Cap Weight Strategy ETF, and the Bitcoin & Ether Equal Weight Strategy ETF.

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