ProShares Introduces World's First Ether Futures ETF for Crypto Bears

ProShares Short Ether Strategy ETF

Leading exchange-traded fund (ETF) issuer ProShares has unveiled the ProShares Short Ether Strategy ETF (SETH), marking the world's first short ether-linked ETF. SETH enables investors to take a bearish stance on ether, the world’s second-largest cryptocurrency. 

The New York Stock Exchange-listed SETH seeks to deliver the inverse of the daily performance of the S&P CME Ether Futures Index by leveraging ether futures contracts. With SETH, investors can now navigate the world of cryptocurrency with greater flexibility and diversified opportunities.

Michael Sapir, the CEO of ProShares, highlighted the significance of this development, stating that the new inverse ether ETF addresses the challenge of acquiring short exposure to ether, which has been historically 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 brokerage account," Sapir stated. 

While the debut of the first ether ETFs in October was somewhat underwhelming, this new offering opens up a unique opportunity for investors to hedge against ether's volatility. 

Roxana Islam, head of sector and industry research at VettaFi, emphasized the value of such an inverse strategy, noting that it can't be easily replaced by a spot-based product, setting the ProShares Short Ether Strategy ETF apart in the ever-evolving landscape of crypto investments.