ProShares Lists Two New Ether-Linked ETFs on the NYSE, Providing Convenient Short, Leveraged Exposure to Ether

Pro Shares has launched two new exchange-traded funds (ETFs) aimed at investors seeking leveraged and inverse exposures to Ether, the native cryptocurrency of the Ethereum blockchain.

The new ETFs are the ProShares Ultra Ether ETF (ETHT) and ProShares UltraShort Ether ETF (ETHD).

ETHT seeks to generate twice (2x) the daily return of Ether, providing investors with a way to capitalize on potential increases in the price of Ether. Conversely, ETHD is designed to provide twice the daily return of the inverse (-2x), allowing investors to profit from falling Ether prices or cover existing Ether positions.

These ETFs are among the first of their kind in terms of specific leverage targets in the cryptocurrency space and are listed on the New York Stock Exchange.

Michael L. Sapir, CEO of ProShares, said: “With ETHT and ETHD, we address the significant challenges investors face when seeking leveraged or short exposure to Ether. These ETFs not only enhance our robust suite of cryptocurrency-related investment solutions, but also streamline the process, reducing the complexity and costs typically associated with such strategies.

With over $70 billion in assets in its ETFs, ProShares has been a pioneer in the ETF industry, particularly in the cryptocurrency sector. Since launching the first U.S. bitcoin-linked ETF in October 2021, the company has aggressively expanded its crypto offering. Previous ProShares initiatives include the launch of the first U.S. short-term bitcoin-linked ETF and a suite of other ether and bitcoin-related products.

Read also: US SEC greenlights Ether ETF applications in crypto milestone

Source