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 ProShares' SETH ETF will start trading soon, following the first Ethereum futures ETFs by about two weeks.
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 ProShares introduced a trio of Ethereum futures ETFs in the recent weeks. Presently, the company is gearing up to provide a distinctive offering.
 ProShares' Short Ether Strategy ETF (SETH) from the fund group is poised to commence trading shortly, following the debut of the initial Ethereum futures ETFs by about two weeks.
 SETH, scheduled for listing on the NYSE Arca exchange, aims to achieve daily investment outcomes that mirror the inverse of the daily S&amp;P CME Ether Futures Index performance, as indicated in a filing made on Friday, Oct. 13.
 The fund does not engage in direct shorting of ether (ETH); rather, it seeks to capitalize on potential declines in the asset's value, as stated in the prospectus. On Friday, the price of ETH stood at approximately $1,540, reflecting a decrease of approximately 6% over the past week.
 <figure><img src="https://cdn.thebittimes.com/images/2023/10/14/731fdb04b3a4435cb12a167ea55ad56b.webp">
 <figcaption style="text-align: center;">Screenshot of the ProShares SETH filing&nbsp; &nbsp; &nbsp;Source: SEC
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 ProShares anticipates that the registration statement for SETH will become effective on Oct. 15 and plans to introduce the fund in early November, as reported by Blockworks.
 However, the three existing ProShares ether futures funds — including two that invest in both ether and bitcoin futures contracts — debuted on Oct. 2 alongside similar products by VanEck and Bitwise.
 The US Securities and Exchange Commission approved ether futures ETFs two years following the introduction of the initial bitcoin futures ETF, the ProShares Bitcoin Strategy ETF (BITO), which entered the market in Oct. 2021.
 Related: SEC reportedly won’t appeal court decision on Grayscale Bitcoin ETF
 ProShares continued its release of bitcoin futures ETFs with the Short Bitcoin Strategy ETF (BITI) in June 2022. As of now, BITO has accumulated around $850 million in assets, while BITI has approximately $75 million.
 In August, Cointelegraph reported that Ether futures ETFs may be approved in October, causing an 11% spike in ETH prices at the time.
 Magazine: Bitcoin ETF optimist and Worldcoin skeptic Gracy Chen: Hall of Flame
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/proshares-prepares-to-launch-unique-short-ether-strategy-etf-tbt66332.html">https://thebittimes.com/proshares-prepares-to-launch-unique-short-ether-strategy-etf-tbt66332.html</a>

ProShares prepares to launch unique Short Ether Strategy ETF

TheBitTimes

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