ProShares - Short Ether ETF
SETH
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- ProShares Short Ether Strategy ETF (SETH) is an exchange-traded fund that seeks daily investment results corresponding to the inverse (-1x) of the daily performance of the S&P CME Ether Futures Index. The fund provides investors with short exposure to ether price movements through derivatives, principally cash-settled ether futures contracts traded on the CME, including front-month and back-month contracts; it also invests in money market instruments and holds positions via a wholly-owned Cayman Islands subsidiary, Proshares Cayman Short Ether Strategy Portfolio, which comprises a significant portion of its holdings alongside cash equivalents. SETH targets retail and institutional investors seeking to profit from declines in ether prices or to hedge long ether positions, operating within the cryptocurrency-linked ETF segment of the broader exchange-traded products industry. Launched on November 2, 2023, and listed on the NYSE Arca, SETH marked ProShares' entry as the world's first short ether-linked ETF, complementing its existing lineup of crypto-linked products such as the ProShares Ether Strategy ETF (EETH), Bitcoin Strategy ETF (BITO), and Short Bitcoin Strategy ETF (BITI). The fund maintains total net assets of approximately $10.86 million to $12.4 million, with a net expense ratio of 0.95% (gross 1.02%, with waivers through September 30, 2026), daily NAV calculations at 4:00 p.m. ET, monthly distributions, and options trading availability. ProShares Short Ether Strategy ETF is managed by ProShare Advisors LLC, part of ProShares based in Bethesda, Maryland, which has pioneered leveraged, inverse, and crypto-linked ETFs since 2006 and oversees over $60 billion in assets across its affiliates. No major acquisitions, funding rounds, partnerships, or strategic shifts specific to SETH have been reported in the last 1-2 years beyond ongoing portfolio adjustments to CME ether futures exposure; the fund continues to focus on its core inverse strategy amid volatile ether markets.