ProShares, a global leader in crypto-linked ETFs, is set to launch the ProShares Ether Strategy ETF (EETH), marking the first-ever ETF designed to track the performance of the Cryptocurrency is a form of digital or virtual currency that uses cryptography for security and operates independently of a central authority or traditional banking system. Cryptocurrencies leverage blockchain technology to gain decentralization, transparency, and immutability. Key Features: • Decentralization: Cryptocurrencies operate on a decentralized network of computers, meaning no central authority governs or regulates it. • Cryptography: Secure transactions and... ether. Simultaneously, ProShares is introducing two ETFs that offer investors exposure to the combined returns of bitcoin and ether, the dominant cryptocurrencies in the market.
EETH is pioneering as it becomes the first exchange-traded fund aiming to replicate the performance of ether, the second-largest cryptocurrency globally and the native currency of the Ethereum platform. ProShares’ CEO, Michael L. Sapir, highlighted the strong demand from investors for cryptocurrency-linked ETFs, citing the success of their bitcoin-linked ETF, BITO, which became the largest crypto-linked ETF globally within two years of its launch.
In addition to EETH, ProShares is launching two innovative ETFs: the ProShares Bitcoin & Ether Equal Weight Strategy ETF (BETE) and the ProShares Bitcoin & Ether Market Capitalization (often referred to as Market Cap) represents the total value of a company or cryptocurrency in the market. It is calculated by multiplying the current stock or coin price by the total number of outstanding shares or coins. Formula: Market Cap = Current Price of Asset × Total Number of Outstanding Shares/Coins Key Points: • Categories of Market... More Weight Strategy ETF (BETH). BETE rebalances monthly to maintain a 50/50 weighting between bitcoin and ether, while BETH adjusts its allocation based on the market capitalization of these two cryptocurrencies.
One remarkable aspect of these ETFs is their accessibility, as investors can gain exposure to the performance of these leading cryptocurrencies through brokerage accounts without the need for a crypto custodian, exchange account, or In the cryptocurrency world, a wallet is a digital tool that allows users to store, send, and receive digital currencies. Wallets can be software-based (online, desktop, or mobile) or hardware devices that securely store users' private keys. More. All three ETFs will be listed on the New York Stock Exchange.