ProShares announces the launch of two Ethereum-linked ETFs, aiming for daily 2x and -2x returns, to list on NYSE on June 7.
Recent investor interest has been piqued by ProShares’ declaration that it will introduce two new Ethereum-linked ETFs. Notably, the leading ETF issuer will introduce the ProShares Ultra Ether ETF (ETHT), which aims for double-digit daily returns on Ether, and the ProShares UltraShort Ether ETF (ETHD), which is the first product of its kind to be offered in the United States.
In the interim, both ETFs are scheduled to list on the New York Stock Exchange (NYSE) on Friday, June 7, per the announcement.
ProShares detailed the forthcoming exchange-traded funds (ETFs) in a recent press release, emphasizing the company’s dedication to broadening its portfolio of crypto-linked products. Significantly, ProShares CEO Michael L. Sapir conveyed his elation regarding the debut, remarking,
“We are excited to introduce ETHT and ETHD. These new ETFs are designed to address the challenge of acquiring leveraged or short exposure to ether, which can be onerous and expensive.”
In the interim, ETHT will enable investors to pursue enhanced Ether returns while requiring a reduced initial investment. However, ETHD provides an instrument for investors who wish to profit from Ether price declines or hedge their Ether exposure.
Notably, both products are intended to improve efficiency, convenience, and accessibility for investors considering leveraged or short positions on ether. Additionally, it is widely acknowledged that ProShares has been a pioneer in the ETF industry.
In October 2021, the organization debuted the initial short Bitcoin-linked ETF (BITI) after introducing the initial U.S. Bitcoin-linked ETF (BITO). Additionally, ProShares introduced the first short ether-linked ETF (SETH) and the first U.S. ETF focusing on Ether’s performance (EETH).
ProShares has established itself as an industry frontrunner in crypto-linked ETFs and a champion in geared ETF investing due to these developments.
At the time of the ETHT and ETHD announcements, interest in crypto-linked investment products is on the rise. ProShares intends that the introduction of these novel ETFs will satisfy an increasing need among investors for more advanced instruments to oversee their investments in the cryptocurrency industry.
The firm’s track record of accomplishments with Bitcoin and Ether exchange-traded funds (ETFs) indicates a notable capacity for these novel offerings to generate substantial attention. The anticipation is palpable, despite the press release stating that the registration statements for ETHT and ETHD are not yet effective and that shares cannot be sold pending SEC approval.
It is anticipated that these products will afford investors an unprecedented degree of adaptability and strategic acumen, empowering them to traverse the capricious cryptocurrency market with enhanced accuracy.
In contrast, the Bitcoin ETF has garnered $2.4 billion in consecutive inflows over the past fifteen days, according to a recent X post by Senior Bloomberg ETF analyst Eric Balchunas.