Proshares Launches Ether Futures ETF

Adekunle Joshua

ProShares has introduced the world's first Ether ETF, which allows investors to bet against the second-largest cryptocurrency

This Ether Strategy ETF aims to provide the opposite of the S&P CME Ether Futures Index's daily performance

Like other crypto ETFs, the new product is tied to futures contracts on Ether, rather than the spot price for the token

In October, ProShares unveiled 3 of the 9 new Ether ETFs but received a lukewarm reception compared to the booming Bitcoin ETF

ProShares CEO Michael Sapir claims this Ether ETF addresses the challenge of acquiring short exposure to Ether."