Ethereum ETFs Surge Amidst Cryptocurrency Downturn, Signaling Token’s Struggles

Two exchange-traded funds (ETFs) designed to capitalize on Ethereum’s decline have emerged as top performers this year. Bloomberg analyst Eric Balchunas was surprised by their performance, noting that the usual frontrunners were lagging behind. According to Bloomberg data, ProShares Ultrashort Ether ETF (ETHD) and T-Rex 2x Inverse Ether Daily Target ETF (ETQ) are up a staggering 247.30% and 219% year-to-date respectively, highlighting the volatility of the Ethereum market.