ProShares introduced a trio of Ether (ETH) futures exchange-traded funds (ETFs) in recent weeks, and the fund’s latest offering — the Proshares Short Ether Strategy ETF (SETH) — is set to start trading in November.

The ETF is scheduled for listing on the NYSE Arca exchange and aims to achieve daily investment outcomes that mirror the inverse of the daily S&P CME Ether Futures Index performance, according to a filing made on Friday, Oct. 13.

The fund does not engage in direct shorting of Ether but looks to capitalize on price dips. On Friday, the price of ETH stood at roughly $1,540 — a decrease of approximately 6% over the past week.

ProShares anticipates that the registration statement for the ETF will become effective on Oct. 15 and plans to introduce the fund in early November, as reported by Blockworks.

However, the three existing ProShares Ether futures funds — including two that invest in both Ether and Bitcoin (BTC) futures contracts — debuted on Oct. 2 alongside similar products from VanEck and Bitwise.

The U.S. Securities and Exchange Commission approved Ether futures ETFs almost two years after the initial Bitcoin futures ETF, the ProShares Bitcoin Strategy ETF, which entered the market in October 2021.

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ProShares continued its release of Bitcoin futures ETFs with the Short Bitcoin Strategy ETF in June 2022. Currently, the ProShares Bitcoin Strategy ETF has accumulated around $850 million in assets, while the Short Bitcoin Strategy ETF has approximately $75 million.