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ProShares launched a trio of Ether (ETH) futures exchange-traded funds (ETFs) in current weeks, and the fund’s newest providing — the Proshares Quick Ether Technique ETF (SETH) — is about to start out buying and selling in November.
The ETF is scheduled for itemizing on the NYSE Arca trade and goals to realize every day funding outcomes that mirror the inverse of the every day S&P CME Ether Futures Index efficiency, according to a submitting made on Friday, Oct. 13.
The fund doesn’t have interaction in direct shorting of Ether however seems to capitalize on worth dips. On Friday, the worth of ETH stood at roughly $1,540 — a lower of roughly 6% over the previous week.
ProShares anticipates that the registration assertion for the ETF will turn out to be efficient on Oct. 15 and plans to introduce the fund in early November, as reported by Blockworks.
Nevertheless, the three present ProShares Ether futures funds — together with two that put money into each Ether and Bitcoin (BTC) futures contracts — debuted on Oct. 2 alongside related merchandise from VanEck and Bitwise.
The U.S. Securities and Change Fee accredited Ether futures ETFs virtually two years after the preliminary Bitcoin futures ETF, the ProShares Bitcoin Technique ETF, which entered the market in October 2021.
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ProShares continued its launch of Bitcoin futures ETFs with the Quick Bitcoin Technique ETF in June 2022. At present, the ProShares Bitcoin Technique ETF has amassed round $850 million in belongings, whereas the Quick Bitcoin Technique ETF has roughly $75 million.
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