SETH Provides Investors With Opportunity to Profit on Days When Ether Drops

BETHESDA, Md., November 02, 2023--(BUSINESS WIRE)--ProShares, the global leader in crypto-linked ETFs, announced today the launch of ProShares Short Ether Strategy ETF (SETH), the world’s first short ether-linked ETF. SETH provides investors an opportunity to profit from declines in the price of ether.

"SETH is designed to address the challenge of acquiring short exposure to ether, which can be onerous and expensive," said ProShares CEO Michael L. Sapir. "With today’s launch of SETH, ProShares now offers investors opportunities to profit both on days when ether increases and when it drops—all through the convenience of a traditional brokerage account," Mr. Sapir added.

SETH joins ProShares’ comprehensive lineup of crypto-linked ETFs. In 2021, ProShares launched BITO, the first U.S. bitcoin-linked ETF, which has become the largest crypto-linked ETF in the world. Subsequently, ProShares launched BITI, the first U.S. short bitcoin-linked ETF; EETH, the first U.S. ETF that targets the performance of ether; and two ETFs that target the blended performance of bitcoin and ether, BETH and BETE, which provide market cap-weighted and equal-weighted exposure, respectively.

SETH, listed on the New York Stock Exchange, is designed to deliver the inverse (opposite) of the daily performance of the S&P CME Ether Futures Index. SETH, like other ProShares crypto-linked ETFs, seeks to obtain exposure through ether futures contracts.

About ProShares

ProShares has been at the forefront of the ETF revolution since 2006. ProShares offers one of the largest lineups of ETFs and, along with its affiliates, now manages over $60 billion in assets. The company is a leader in strategies such as crypto-linked, dividend growth, and geared (leveraged and inverse) ETF investing. ProShares continues to innovate with products that provide strategic and tactical opportunities for investors to manage risk and enhance returns.

Investing involves risk, including the possible loss of principal. There is no guarantee any ProShares ETF will achieve its investment objective.

The ProShares Short Ether Strategy ETF seeks daily investment results that correspond, before fees and expenses, to the inverse (-1x) of the daily performance of its underlying benchmark—the S&P CME Ether Futures Index (the "Daily Target"). While the Fund has a daily investment objective, you may hold Fund shares for longer than one day if you believe it is consistent with your goals and risk tolerance. For any holding period other than a day, your return may be higher or lower than the Daily Target. These differences may be significant. Smaller index gains/losses and higher index volatility contribute to returns worse than the Daily Target. Larger index gains/losses and lower index volatility contribute to returns better than the Daily Target. The more extreme these factors and the longer your holding period while these factors apply, the more your return will tend to deviate. Investors should consider periodically monitoring their geared fund investments in light of their goals and risk tolerance.