ProShares Ethereum ETF Now Live on NYSE Arca

IconCryptoNewsTerminal Staff17 Jul, 2024

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ProShares Ethereum ETF Now Live on NYSE Arca

The much-anticipated ProShares Ethereum ETF has finally gone live on NYSE Arca, according to a tweet from Bloomberg ETF analyst James Seyffart. This follows the SEC's recent approval of Form 19b-4 (change in trading rules) for both Grayscale Ethereum Mini Trust and ProShares Ethereum ETF. The launch of this ETF marks a significant milestone in the development of the cryptocurrency market, as it provides investors with a convenient and regulated way to gain exposure to Ethereum without having to buy and store the underlying asset themselves. It is expected to attract a wide range of investors, including institutional investors, retail investors, and those new to the cryptocurrency space. The ProShares Ethereum ETF is designed to track the performance of the Ethereum Index, which is composed of Ethereum futures contracts traded on the Chicago Mercantile Exchange (CME). This structure allows the ETF to provide investors with exposure to Ethereum's price movements without the need to hold the underlying asset directly.

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