Last Updated on November 3, 2023 by Bitfinsider
ProShares, a U.S.-based exchange-traded fund issuer, today announced the launch of the ProShares Short Ether Strategy ETF (SETH), which allows investors to profit from price decreases in Ethereum (ETH), the second-largest cryptocurrency by market capitalization.
SETH, which will begin trading on the NYSE Arca, aims to produce the inverse of the daily performance of its underlying benchmark, the Standard & Poor’s CME Ether Futures Index.
“You will lose money when the Index rises—the opposite of a traditional index fund,” the product’s summary prospectus states. “Obtaining inverse or ‘short’ exposure may be considered an aggressive investment technique.”
It goes on to say that investing in SETH “may not be suitable for all investors” since if the Index hits 100% at any moment throughout the day, “you could lose your entire investment.”
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