ProShares prepares to launch unique Short Ether Strategy ETF

ProShares presented a trio of Ethereum futures ETFs in the current weeks. Currently, the business is tailoring up to provide a distinct offering.ProShares Short Ether Strategy ETF (SETH) from the fund group is poised to commence trading soon, following the launching of the initial Ethereum futures ETFs by about two weeks.SETH, scheduled for noting on the NYSE Arca exchange, intends to attain everyday financial investment outcomes that mirror the inverse of the day-to-day S&P CME Ether Futures Index efficiency, 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 prospective decreases in the possessions value, as stated in the prospectus. On Friday, the rate of ETH stood at approximately $1,540, showing a decline of approximately 6% over the previous week.Screenshot of the ProShares SETH filing Source: SECProShares expects that the registration declaration for SETH will end up being reliable on Oct. 15 and plans to present the fund in early November, as reported by Blockworks.However, the three existing ProShares ether futures funds– consisting of 2 that invest in both ether and bitcoin futures contracts– debuted on Oct. 2 together with comparable products by VanEck and Bitwise.The US Securities and Exchange Commission authorized ether futures ETFs 2 years following the introduction of the preliminary bitcoin futures ETF, the ProShares Bitcoin Strategy ETF (BITO), which went into the marketplace in Oct. 2021. Related: SEC supposedly will not appeal court choice on Grayscale Bitcoin ETFProShares continued its release of bitcoin futures ETFs with the Short Bitcoin Strategy ETF (BITI) in June 2022. Currently, BITO has actually built up around $850 million in possessions, while BITI has around $75 million.In August, Cointelegraph reported that Ether futures ETFs might be approved in October, triggering an 11% spike in ETH prices at the time. Publication: Bitcoin ETF optimist and Worldcoin skeptic Gracy Chen: Hall of Flame