Maryland-based fund manager ProShares announced the launch of a short Ether-linked exchange-traded fund on Thursday.

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Fast Facts

• The new ETF will allow investors to profit from Ether’s price drops.

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• ProShares launched a Bitcoin-linked short ETF in the U.S. in June 2022.

• The firm also launched one of the first Bitcoin-linked ETFs in the U.S., the Bitcoin Strategy ETF (BITO) in October 2021.

• Ether fell 0.26% in the hour after the announcement, to US$1,831 as of 9:30 p.m. in Hong Kong, according to CoinMarketCap.

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• Source: https://forkast.news/proshares-launches-short-ether-etf/