TechFlow news — ProShares has announced the launch of the first ETF allowing investors to take a bearish position on Ethereum futures (SETH), according to Reuters.
The ProShares Short Ethereum Strategy ETF is designed to deliver investment results that are the inverse of the daily performance of the S&P CME Ether Futures Index. In other words, if the index declines by 1%, the ETF aims to generate a 1% return.
Like other cryptocurrency ETFs, this new product is linked to Ethereum futures contracts rather than the spot price of the token.
Currently, the market is still awaiting U.S. Securities and Exchange Commission approval for a spot Bitcoin ETF. An Ethereum ETF is a similar product, except it focuses on Ethereum instead of Bitcoin.
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