ProShares launches ether futures ETF for crypto bears
© Reuters. FILE PHOTO: The logo for ProShares, the first Short Bitcoin Strategy ETF, is displayed on a screen on the floor of the New York Stock Exchange in New York City, U.S., June 27, 2022. REUTERS/Brendan McDermid/File Photo
ProShares Short Ether Strategy is designed to deliver the inverse of the daily performance of the Standard & Poor's CME Ether Futures Index. In other words, if the index falls 1%, the ETF will seek to return 1%. The first ether ETFs made their debut as a group in early October, with Proshares launching three of the nine new vehicles. The ProShares Ether Strategy ETF offers exposure to ether only; the other two combine exposure to ether and bitcoin.Strategy ETF, which pulled in about $1 billion in assets within its first few days of trading. By contrast, the largest of the new ether futures ETFs has below $10 million in assets.
ProShares also offers an inverse bitcoin ETF, ProShares Short Bitcoin Strategy. That fund has about $74 million in assets.
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