ProShares announced the launch of a new Ethereum futures short ETF, James Seyphart, ETF research analyst at Bloomberg Intelligence, reported.
According to the October 13 post, trading is scheduled to begin in 3 days on October 16 under the symbol $SETH.
Answer to August file
While the SEC has quickly approved all long and traditional Ethereum futures ETFs, this particular fund is on track for its originally scheduled effective date. It is important to note that this development is not a sudden surprise; The ETF was introduced alongside others in August.
As part of the thread, a community member asked about the chances of an Ethereum ETF getting approved by Q1 2024, to which Seyfart replied that Q2 2024 would be Guess it on time.
ProShares has become the 11th company to apply for an Ethereum ETF within a week
ETF order flow.
On August 4 of this year, Proshares became the 11th company to apply for an ETF over the course of the week, becoming part of an influx of 11 applications for Ethereum-related ETFs centered around futures ETFs.
The surge in orders for Ethereum-based ETFs began when Volatility Shares kicked off the trend with its introduction of a Volatility Shares strategy ETF on July 28. Later, industry leaders such as Bitwise Asset Management, Roundhill Financial, Van Eck, ProShares, and Grayscale Investments emerged. It quickly joined the competition by placing orders for Ethereum futures on August 1.
The ProShares Bitcoin Futures ETF will begin trading Tuesday on the New York Stock Exchange
Editorial Team
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