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SaltWire's Atlantic regional weather forecast for November 2, 2023 | SaltWire - ProShares is rolling out the first exchange-traded fund that allows investors to take a bearish view on ether, the world's second-largest cryptocurrency, the firm said on Thursday.
Like other cryptocurrency ETFs, the new product is tied to futures contracts on ether, rather than the spot price for the token. The market is still waiting for the U.S. Securities and Exchange Commission to give the green light to spot bitcoin ETFs. That debut was underwhelming, especially when compared to the success of the ProShares Bitcoin Strategy ETF, which pulled in about $1 billion in assets within its first few days of trading. By contrast, the largest of the new ether futures ETFs has below $10 million in assets.
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