Ethereum
ProShares to launch two new Ethereum ETFs on the NYSE
ProShares caught the attention of investors today with its recent announcement of the launch of two new Ethereum-related ETFs. Notably, the leading ETF issuer will launch the ProShares Ultra Ether ETF (ETHT) targeting 2x daily returns on Ether, while the ProShares UltraShort Ether ETF (ETHD) targets -2x daily returns, marking the first U.S. product of its kind .
Meanwhile, as per the announcement, both ETFs are expected to be listed on the New York Stock Exchange (NYSE) on Friday, June 7.
ProShares to launch two Ethereum ETFs
In a recent press release, ProShares revealed its plans for the new ETFs, highlighting the company’s commitment to expanding its range of crypto-related products. Notably, Michael L. Sapir, CEO of ProShares
expressed his excitement for the launch, stating:
“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 costly.
Meanwhile, ETHT will offer investors the opportunity to earn increased returns on Ether with a lower capital outlay. On the other hand, ETHD offers a tool for investors looking to take advantage of falling Ether prices or hedge their existing Ether exposure.
It should be noted that both products are designed to improve accessibility, convenience and efficiency for investors interested in leveraged or short positions in Ether. In addition, ProShares’ The pioneering role in the ETF market is no longer in doubt.
The company introduced the first US Bitcoin-linked ETF (BITO) in October 2021, followed by the first Bitcoin-linked short ETF (BITI). ProShares also launched the first US ETF targeting the performance of Ether (EETH) and the first short ETF linked to Ether (SETH). These innovations have solidified ProShares’ reputation as a leader in ETF-oriented investing and a pioneer in cryptocurrency-related ETFs.
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Crypto ETPs are gaining ground
The announcement of ETHT and ETHD comes at a time when interest in investment products linked to cryptocurrencies is booming. By offering these new ETFs, ProShares aims to meet a growing demand from investors for more sophisticated tools to manage their market exposure. cryptocurrency sector.
Notably, the company’s previous successes with Bitcoin and Ether ETFs suggest strong potential for these new offerings to generate significant interest. Although the press release states that the registration statements for ETHT and ETHD are not yet effective and shares cannot be sold until SEC approval, the anticipation is palpable.
These products are expected to offer a new level of flexibility and strategy to investors, allowing them to navigate the volatile crypto market with greater precision. Meanwhile, the Bitcoin ETF attracted $2.4 billion after noting back-to-back inflows over the past 15 days, Bloomberg ETF senior analyst Eric Balchunas said in a recent X article.
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