ProShares Launches ETFs Targeting 2x and -2x Daily Ether Returns
Jun 07, 2024
ETHT targets 2x daily ether returns, while ETHD targets -2x daily ether returns and is the first ETF of its kind in the U.S.
BETHESDA, Md. — ProShares, a premier provider of ETFs, has expanded its product lineup with today’s launch of two pioneering ether-linked ETFs. The ProShares Ultra Ether ETF (ETHT) targets 2x daily ether returns, while the ProShares UltraShort Ether ETF (ETHD) is the first U.S.-listed product to target -2x daily ether returns. These products join ProShares’ expansive lineup of crypto-linked ETFs, which is the largest in the U.S. by number of listings.
“We are excited to introduce ETHT and ETHD. These new ETFs are designed to address the challenge of acquiring leveraged or short exposure to ether, which can be onerous and expensive,” said ProShares CEO Michael L. Sapir. “ETHT offers investors the opportunity to pursue magnified ether returns or target a level of exposure with less money at risk. ETHD allows investors to seek profit when the price of ether drops or hedge their ether exposure.”
ETHT and ETHD, listed on the New York Stock Exchange, are designed for investors who want to target leveraged or short ether exposure with the accessibility, convenience and efficiency of an ETF.
ProShares is the world’s leader in geared ETF investing and a pioneer of crypto-linked ETFs. The firm broke ground by offering the first U.S. bitcoin-linked ETF (BITO) in October 2021. Since then, ProShares has also launched the first U.S. short bitcoin-linked ETF (BITI), the first U.S. ETF that targets the performance of ether (EETH) and the first short ether-linked ETF (SETH), among other innovative crypto-linked ETF solutions. The preceding ETFs, including ETHT and ETHD, do not invest directly in cryptocurrencies.
About ProShares
ProShares has been at the forefront of the ETF revolution since 2006. ProShares now offers one of the largest lineups of ETFs, with over $70 billion in assets. The company is a leader in strategies such as crypto-linked, dividend growth, interest rate hedged bond 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.