Spot cash cannot be used against futures! Proshares applies for second-tier leveraged Ethereum ETF

Since the SEC approved the Bitcoin spot ETF in January, the crypto community has been eagerly anticipating the Ethereum spot ETF. However, with the SEC’s recent delays, everyone is still concerned about the approval in May. The odds are no longer optimistic. At the same time, Proshares, an ETF issuer that specializes in futures and leverage operations, submitted a 2x forward and reverse Ethereum futures ETF in an attempt to attract investors' attention.

Ethereum Futures ETF Listing

The U.S. Securities and Exchange Commission (SEC) approved 9 Ethereum-related futures ETFs in October 2023, among which Proshares’ Ethereum Strategy ETF (EETH) also Among them, it invested in CME ETHER FUTURE to obtain Ethereum-related exposure. However, the market response after the listing did not seem to be enthusiastic, and the current asset size is only US$72.53 million.

Proshares applied for a second-tier leveraged Ethereum ETF

According to the information submitted to the SEC, Proshares once again submitted a second-tier ETF public prospectus on 4/8, which are:

• Ultra Ether ETF (2x Leverage)

• Ultra Short Ether ETF (2x Inverse Leverage)

This is also via Ether Ethereum futures contract, and added a swap contract to double the exposure to Ethereum without investing directly in Ethereum spot.

In addition, Defiance also recently submitted a 2x leveraged Ethereum futures ETF.

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