BETHESDA, Md. ~ ProShares, the global leader in crypto-linked ETFs, announced the launch of three new ETFs on Monday, October 2. The ProShares Ether Strategy ETF (EETH) is the first ETF to target the performance of the cryptocurrency ether. Additionally, two ETFs that each look to provide performance that corresponds to a blended return of bitcoin and ether have also been launched.

Michael L. Sapir, CEO of ProShares, commented on the launch: "We have seen substantial demand from investors for access to the performance of cryptocurrencies through ETFs with the success of our bitcoin-linked ETF, BITO, which was launched almost two years ago and has become the largest crypto-linked ETF in the world. Now, with the launch of EETH, investors who want to target the performance of bitcoin or ether through an ETF, with all of the structure's benefits, will not need to wait."

The two blended return ETFs are ProShares Bitcoin & Ether Equal Weight Strategy ETF (BETE) and ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH). BETE rebalances monthly to a 50/50 weighting between bitcoin and ether while BETH rebalances monthly based on their respective market capitalizations.

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Sapir added: "We believe that BETE and BETH are groundbreaking in that they offer investors the opportunity to target the performance of the two leading cryptocurrencies in their brokerage accounts through one transaction with a single ticker. We are offering two weightings depending on an investor's desired exposure."

All three new ETFs will be available to investors through brokerage accounts with no need for a crypto custodian, exchange account or wallet and will be listed on the New York Stock Exchange. According to ProShares' research these futures trade on a regulated exchange and historically have had a .99 correlation to their respective cryptocurrencies. The Funds do not invest directly in bitcoin or ether.

The launch expands ProShares' line-up of crypto-linked ETFs which includes BITO (launched 2021) and BITI (launched 2022). All five ETFs invest primarily in ether futures, bitcoin futures or both.

With this launch investors now have more options when it comes to investing in cryptocurrencies without having to worry about custody risks or learning curves associated with buying them directly.

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