Set to Launch Unique Short Ether Strategy, ProShares

ProShares Sets Launching of Short Ether Strategy

ProShares, recognised for its Ethereum Futures (ETF), is set for launching Short Ether Strategy (SETH) on NYSE Arca. The aim of SETH is to provide daily returns that reflect the inverse performance of the daily S&P CME Ether Futures Index. The fund capitalises on potential declines in ETH's value instead of directly shorting Ethereum (ETH). On 15 October the registration statement for SETH is expected to be effective. With the funds launch scheduled for early November. This comes after 2 weeks of initial Ethereum futures ETFs introduced by ProShares. In 2021 SEC's approval of ether futures ETFs follows the introduction of bitcoin futures ETFs.