MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, October 17, 2023 ProShares Will Soon Cater to Ether Skeptics, Too The team at a $60-billion-AUM fund firm (one with 141 ETFs and 65 mutual funds) is preparing to further expand their cryptocurrency-linked ETF lineup, this by letting investors bet both for and against a prominent cryptocurrency.
SETH will come with an expense ratio of 95 basis points (which includes 38bps in fee waivers promised through October 31, 2024). It is designed to track the inverse of the daily performance of the S&P SME Ether Futures Index from S&P Dow Jones Indices LLC, an index that tracks ether futures contract trading on the CME. ProShares Advisors will serve as investment advisor to SETH. The new ETF's PM team will include George Banian, portfolio manager, and Alexander Ilyasov, senior portfolio manager. SETH is slated to debut about a month after the ProShares team debuted a trio of new crypto-linked ETFs, including one focused purely on ether futures (not directly in ether, i.e. "spot ether"). Similarly, SETH is designed to bet against ether futures, but it will not directly short ether. The new fund's service providers will include: ACA Group as provider of principal financial officer and treasurer services; Citi Fund Services Ohio, Inc. as regulatory administration services provider; JPMorgan Chase Bank, N.A. as administrator, custodian, and index receipt agent; PricewaterhouseCoopers LLP as independent accounting firm; Ropes & Gray LLP as counsel; and SEI Investments Distribution Co. as distributor and principal underwriter. Printed from: MFWire.com/story.asp?s=66573 Copyright 2023, InvestmentWires, Inc. All Rights Reserved |
