Asset management company ProShares announced the launch of Ether ProFund (ETHFX), the first Ethereum-based mutual fund in the United States, through its mutual fund affiliate ProFunds. Previously, ProShares also launched the first Bitcoin-based mutual fund Bitcoin ProFund (BTCFX), which is currently close to $500 million. It is reported that ETHFX will invest in Ethereum futures and will not directly invest in ETH.