ProShares launches short Ether ETF
Maryland-based fund manager ProShares announced the launch of a short Ether-linked exchange-traded fund on Thursday.
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Fast Facts
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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