ProShares has listed two new Ether-linked ETFs on the NYSE that offer convenient leverage and short-term Ether exposure.

ProShares has launched two new exchange-traded funds (ETFs) targeting investors seeking leveraged and inverse exposure to Ethereum, the native cryptocurrency on the Ethereum blockchain.

The new ETFs are ProShares Ultra Ether ETF (ETHT) and ProShares UltraShort Ether ETF (ETHD).

ETHT aims to provide investors with a leveraged vehicle to take advantage of potential rises in the price of Ether by offering twice (2x) the daily returns of Ether. Conversely, ETHD is designed to deliver twice the inverse (-2x) daily return, giving investors the opportunity to profit from falling prices of Ether or hedge their existing Ether positions.

This ETF is one of the first ETFs in the cryptocurrency space in terms of specific leverage objectives and is listed on the New York Stock Exchange.

Michael L. Sapir, CEO of ProShares, said: “With ETHT and ETHD, we are solving a serious problem investors face when seeking leverage or short exposure to Ether. “These ETFs not only strengthen our robust lineup of cryptocurrency-linked investment solutions, but also streamline the process, reducing the complexity and costs typically associated with such strategies.”

With over $70 billion in assets across ETFs, ProShares has been a pioneer in the ETF industry, particularly in the cryptocurrency space. Since launching the first U.S. Bitcoin-linked ETF in October 2021, the company has been aggressively expanding its cryptocurrency offerings. ProShares’ initial plans include the debut of the first U.S. short Bitcoin-linked ETF and a suite of other Ethereum and Bitcoin-related products.

Also Read: US SEC Greenlights Ether ETF Application Applies to Cryptocurrency Milestones