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ProShares launched three ether futures ETFs earlier this month. Now, the agency is making ready to supply one thing a bit completely different.
The fund group’s Quick Ether Technique ETF (SETH) seems set to begin buying and selling within the coming days, about two weeks after the primary ether futures ETFs arrived in the marketplace.
To be listed on the NYSE Arca trade, SETH seeks each day funding outcomes that correspond to the inverse of the each day efficiency of the S&P CME Ether Futures Index, based on a Friday filing.
The fund doesn’t instantly quick ether (ETH). As a substitute, it goals to profit from decreases within the asset’s value, the prospectus notes.
The value of ETH was about $1,540 at 4 pm ET on Friday — down roughly 6% from seven days in the past.
ProShares expects the registration assertion for SETH “to go efficient” on Oct. 15 and intends to launch the fund in early November, a supply accustomed to the submitting instructed Blockworks.
The three present ProShares ether futures funds — together with two that put money into each ether and bitcoin futures contracts — debuted on Oct. 2 alongside comparable merchandise by VanEck and Bitwise.
Learn extra: Underwhelming: week-one demand stays soft for ETH futures ETFs
The US Securities and Exchange Commission greenlit ether futures ETFs two years after the primary bitcoin futures ETF — the ProShares Bitcoin Technique ETF (BITO) — got here to market in October 2021.
ProShares adopted up its bitcoin futures ETF launch with that of its Quick Bitcoin Technique ETF (BITI) in June 2022. BITO and BITI have about $850 million and $75 million in belongings, respectively.
Up to date Oct. 13, 2023 at 5:21 pm ET: Modified for added context.
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