New SETH ETF Allows Investors to Benefit from Ethereum Price Drops
ProShares, a U.S.-based issuer of exchange-traded funds, has unveiled the ProShares Short Ether Strategy ETF (SETH), enabling investors to profit from Ethereum’s (ETH) price declines, the second-largest cryptocurrency by market capitalization.
SETH, set to trade 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’s important to note that with SETH, investors will experience losses when the Index rises, making it a less traditional investment choice.
The summary prospectus highlights that SETH may not be suitable for all investors, as a 100% increase in the Index during a day could result in a complete loss of the investment. ProShares already offers various crypto-linked ETFs, such as the Bitcoin Strategy ETF (BITO), Ether Strategy ETF (EETH), and others, giving investors alternative ways to access the crypto market with the benefits of regulation, transparency, pricing, and liquidity that ETFs provide.
Clever Robot News Desk 5th November 2023
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