ProShares announces launch of short Ether-linked ETF
ProShares’s new Short Ether Strategy ETF is set to start trading on the NYSE Arca under the ticker symbol SETH. ProShares, a major issuer of exchange-traded funds (ETF), has officially announced the launch of the short Ether- linked ETF. Incepted on Nov. 2, ProShares’s new Short Ether Strategy ETF is set to start trading on the New York Stock Exchange’s (NYSE) Arca under the ticker symbol SETH. The new crypto ETF is designed to provide investors with an opportunity to profit from the volatility of the Ether price. Similarly to other ProShares crypto- linked ETFs, SETH seeks to obtain exposure through Ether futures contracts, the announcement notes. According to ProShares CEO Michael Sapir, SETH aims to address the challenge of acquiring short exposure to ETH, “which can be onerous and expensive.” “With today’s launch of SETH, ProShares now offers investors opportunities to profit both on days when Ether increases and when it drops — all through the convenience of a traditional bro...