Kelly ETFs Applies To Launch Ether Futures ETF In The USA
The firm filed Form N-1A on November 29 with the Securities and Exchange Commission (SEC). The Kelly Ethereum Ether Strategy ETF will contain Ether futures contracts that are traded on federally regulated exchanges. At the moment, futures on the ETH of the Chicago Mercantile Exchange fall under this definition. The fund does not allow direct dependence on the price of ETH, and its structure is similar to the approved ETFs for Bitcoin futures.
This is the only ETH futures application filed with the SEC. The regulator has 75 days to review the application. The SEC may well postpone or reject the application. According to Bloomberg analysts Eric BALCHUNAS and James SEYFFART, the probability of approval of the Kelly ETFs application is no more than 20%.
Earlier, James Seyffart said that the SEC may approve the launch of ETFs on Ether futures before ETFs with direct investments in Bitcoin. It is likely that this will happen early next year and the Kelly ETFs will be the first.
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