Is ProShares' Short Ether Strategy ETF (SETH) Launching in November? ✅
#ProShares is gearing up to launch the ProShares Short Ether Strategy ETF (SETH) in November, capitalizing on the recent approval of Ethereum futures ETFs.
This offering is part of a trio of Ether futures exchange-traded funds (ETFs) introduced by ProShares. #SETH is scheduled to be listed on the NYSE Arca exchange and aims to mirror the inverse daily performance of the S&P CME Ether Futures Index.
Notably, SETH does not directly short Ether but seeks to profit from price dips. ProShares anticipates the ETF's registration statement to become effective on October 15, with plans to introduce the fund in early November.
This development follows the approval of Ether futures ETFs by the U.S. Securities and Exchange Commission, arriving almost two years after the first Bitcoin futures #ETF .
ProShares, which previously introduced Bitcoin futures ETFs, has seen significant assets under management in these funds, with the ProShares Bitcoin Strategy ETF amassing around $850 million and the Short Bitcoin Strategy ETF holding approximately $75 million.
