Metalloprotease that cleaves and sheds the ectodomains of cell-surface proteins and thereby contributes to angiogenesis, cell differentiation, inflammation, and cell proliferation (PubMed:14676211, PubMed:33982767). Modulates the activity of adhesion molecules and cytokines by generating soluble forms, leading to either attenuation of cell-surface signaling or initiation of downstream intracellular signaling pathways. For instance, acts as a constitutive sheddase of kit ligand/KITLG (PubMed:14676211). Promotes and maintains a proliferative phenotype in vascular smooth muscle cells through regulation of the PI3K/AKT and ERK signaling pathways (PubMed:33982767). Additionally, enhances cell migration and regulates cytokine secretion during airway vascular remodeling via the same signaling cascades (PubMed:36091328). {ECO:0000269|PubMed:14676211, ECO:0000269|PubMed:33982767, ECO:0000269|PubMed:36091328}. This is the function of Ensembl gene identifier ENSG00000149451 (ADAM33, ADAM metallopeptidase domain 33).