ProShares launches short Ethereum futures ETF
ChainCatcher news, according to Reuters, ProShares announced on Thursday that the company is launching the first ETF that allows investors to short Ethereum. The ProShares Short Ethereum Strategy aims to provide the opposite daily performance of the S&P CME Ethereum Futures Index.
In other words, if the index falls by 1%, the ETF will seek a return of 1%. Like other cryptocurrency ETFs, the new product is linked to Ethereum futures contracts rather than the spot price of the tokens.
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