ProShares, a U.S.-based issuer of exchange-traded funds, today announced the launch of ProShares Short Ether Strategy ETF (SETH), letting investors profit from declines in the price of Ethereum (ETH), the second-largest cryptocurrency by market capitalization. SETH, which is set to start trading on the New York Stock Exchange’s (NYSE) Arca, seeks to deliver the inverse of the daily performance of its underlying benchmark—the Standard & Poor’s CME Ether Futures Index. It further states that an investment in SETH “may not be suitable for all investors” as they risk losing their entire investment if the Index approaches a 100% increase. Ethereum was trading at $1,816 by press time, up 1.5% over the day. Earlier this year, ProShares also introduced Bitcoin Short ETF (BITI), a similar product whose performance is inversely correlated to the S&P CME Bitcoin Futures Index. SETH joins ProShares’ lineup of other crypto-linked ETFs, providing investors with indirect exposure to an underlying asset. Its crypto-linked ETFs offer investors several advantages over other ways of accessing the crypto market. #Investing #Crypto #ETF #Ethereum

You can read more about this topic here: Decrypt: So You Want to Short Ethereum? There’s an ETF for That

Want more Byte Syze Crypto news?

Invalid email address
We promise not to spam you. You can unsubscribe at any time.