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Bloomberg Intelligence ETF Research Analyst James Seyffart reported that ProShares has announced the launch of a new short ethereum Futures ETF.
According to the October 13 post, trading is scheduled to begin in 3 days, on October 16, under the symbol $SETH.
A response to a presentation from August
While the SEC accelerated the approval of all traditional and long-term ethereum futures ETFs, this one in particular remains on its originally scheduled effective date. It is essential to note that this development is not a sudden surprise; the ETF was introduced along with others in August.
As part of the thread, a community member asked about the chances of an ethereum ETF being approved for the first quarter of 2024, to which Seyffart responded that the second quarter of 2024 would be your assumption At the time.
An influx of ETF applications
On August 4 of this year, Proshares became the 11th company to file for an ethereum ETF throughout the week, becoming part of an influx of 11 ethereum-related ETF filings that focus on futures ETFs.
The surge in applications for ethereum-based ETFs began when Volatility Shares started the trend with its filing for the Volatility Shares Ether Strategy ETF on July 28. Subsequently, industry leaders such as Bitwise Asset Management, Roundhill Financial, Van Eck, ProShares, and Grayscale Investments quickly joined the competition by submitting their respective ethereum futures applications on August 1.