ProShares to Launch Two New Ethereum ETFs on NYSE
1. ProShares is launching two new Ethereum ETFs (Exchange-Traded Funds) on the New York Stock Exchange (NYSE).
2. The two ETFs are:
- ProShares Ethereum Strategy ETF (ETHSTR)
- ProShares Short Ethereum Strategy ETF (SHETH)
3. ETHSTR will invest in futures contracts and other ETFs to gain exposure to Ethereum prices.
4. SHETH will aim to provide inverse exposure to Ethereum prices, allowing investors to bet against the cryptocurrency.
5. The launch date for the ETFs is June 7, 2024.
6. ProShares already offers a Bitcoin ETF (BITO) and has seen success in the cryptocurrency ETF market.
*Summary:* ProShares is expanding its cryptocurrency offerings with two new Ethereum ETFs on the NYSE, providing investors with new ways to gain exposure to Ethereum prices.