The post ProShares Launches the First ETF for Investors Betting Against Ethereum! appeared first on Coinpedia Fintech News
ProShares has launched the world’s first ETF (Exchange Traded Fund) that enables investors to take a bearish stance on Ethereum (ETH). The ProShares Short Ether Strategy is designed to provide the opposite of the daily performance of the Standard & Poor’s CME Ether Futures Index. Put simply, if the index plunges 1%, the ETF will attempt to generate 1% in gains. The move comes as investors have become increasingly interested in shorting cryptocurrencies as the market becomes more volatile. ProShares has been one of the pioneers in the ETF industry, launching the first ever inverse ETF in 2006.
Source: https://coinpedia.org/crypto-live-news/proshares-launches-the-first-etf-for-investors-betting-against-ethereum/