Maryland-based fund manager ProShares announced the launch of a short Ether-linked exchange-traded fund on Thursday.
- ProShares Short Ether Strategy ETF (SETH) will start trading on the New York Stock Exchange ARCA under the ticker symbol SETH.
- The new ETF will allow investors to profit from Ether’s price drops.
- ProShares launched a Bitcoin-linked short ETF in the U.S. in June 2022.
- The firm also launched one of the first Bitcoin-linked ETFs in the U.S., the Bitcoin Strategy ETF (BITO) in October 2021.
- Ether fell 0.26% in the hour after the announcement, to US$1,831 as of 9:30 p.m. in Hong Kong, according to CoinMarketCap.
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