ProShares prepares to release special Brief Ether Method ETF

ProShares presented a trio of Ether (ETH) futures exchange-traded funds (ETFs) in current weeks, and the fund’s most current offering– the Proshares Short Ether Method ETF (SETH)– is set to begin trading in November.

The ETF is set up for noting on the NYSE Arca exchange and intends to attain everyday financial investment results that mirror the inverse of the everyday S&P CME Ether Futures Index efficiency, according to a filing made on Friday, Oct. 13.

The fund does not participate in direct shorting of Ether however wants to profit from rate dips. On Friday, the rate of ETH stood at approximately $1,540– a reduction of roughly 6% over the previous week.

ProShares expects that the registration declaration for the ETF will end up being efficient on Oct. 15 and prepares to present the fund in early November, as reported by Blockworks.

Nevertheless, the 3 existing ProShares Ether futures funds– consisting of 2 that buy both Ether and Bitcoin (BTC) futures agreements– debuted on Oct. 2 together with comparable items from VanEck and Bitwise.

The U.S. Securities and Exchange Commission authorized Ether futures ETFs practically 2 years after the preliminary Bitcoin futures ETF, the ProShares Bitcoin Method ETF, which got in the marketplace in October 2021.

Related: SEC supposedly will not appeal court choice on Grayscale Bitcoin ETF

ProShares continued its release of Bitcoin futures ETFs with the Brief Bitcoin Method ETF in June 2022. Presently, the ProShares Bitcoin Method ETF has actually built up around $850 million in possessions, while the Brief Bitcoin Method ETF has roughly $75 million.

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