Key Points:
Two new ProShares Ethereum ETFs, ETHT and ETHD, will be launched on June 7.
ETHT targets 2x daily Ether returns, while ETHD targets -2x daily returns.
ProShares continues its leadership in crypto-linked ETFs, expanding its innovative offerings.
ProShares, a leading provider of exchange-traded funds (ETFs), announced today the launch of two new Ether-linked ETFs.
New ProShares Ethereum ETFs Launched
The ProShares Ultra Ether ETF (ETHT) aims to deliver twice the daily returns of Ether, while the ProShares UltraShort Ether ETF (ETHD) is set to be the first U.S.-listed product to target twice the inverse of Ether's daily returns. Both ProShares Ethereum ETFs are scheduled to be listed on the New York Stock Exchange this Friday, June 7.
ProShares CEO Michael L. Sapir stated: "These ETFs are designed to address the difficulty and cost associated with obtaining leveraged or short exposure to Ether. ETHT provides an opportunity for investors to achieve magnified Ether returns or to gain exposure with less capital at risk. Conversely, ETHD enables investors to profit when the price of Ether declines or to hedge their Ether exposure."
ProShares Ethereum ETFs cater to investors seeking leveraged or short exposure to Ether with the added benefits of accessibility, convenience, and efficiency that ETFs provide.
ProShares Expands Crypto ETF Leadership with New Offerings
ProShares, a global leader in geared ETF investing and a pioneer in crypto-linked ETFs, continues to innovate in this space. The firm made history by introducing the first U.S. Bitcoin-linked ETF (BITO) in October 2021 and has since launched various groundbreaking products, including the first U.S. short Bitcoin-linked ETF (BITI) and the first U.S. ETF targeting Ether's performance (EETH).
These ProShares Ethereum ETFs do not directly invest in cryptocurrencies. In November 2023, ProShares also introduced the ProShares Short Ether Strategy ETF (SETH), the world’s first short Ethereum ETF, offering investors the potential to profit from falling Ether prices.
The Securities and Exchange Commission’s recent shift towards spot Ether ETFs has been partly attributed to political pressure from the Democratic Party ahead of the upcoming U.S. election in November. Observers are keen to see if Ethereum will follow Bitcoin’s trajectory, which saw increased trading activity after ETF connections were established earlier this year.
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