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    Home»Bitcoin»Kelly ETFs Apply to Launch Ether Futures ETF
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    Bitcoin

    Kelly ETFs Apply to Launch Ether Futures ETF

    AdministratorBy Administrator30.11.2021No Comments2 Mins Read
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    bt-crow.com

    30 November 2021 06:48, UTC

    Reading time: ~ 2 m


    The American company Kelly ETFs, which issues and services exchange-traded funds, has filed an application with the US Securities and Exchange Commission to launch an ETF on Ether futures.

    According to the filing, the Kelly Ethereum Ether Strategy ETF will invest in Ether futures on regulated US exchanges. At the moment, this definition includes futures on ether only on the floor of the Chicago Mercantile Exchange. Accordingly, the fund will not directly invest in ETH – the structure of the new ETF is similar to the structures of the already approved funds for Bitcoin futures.

    This is the only ETH futures application currently pending with the US Securities and Exchange Commission (SEC). The regulator has 75 days to review it. However, the SEC may well postpone or even reject the application. So, 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 that the Kelly ETFs will be the first of its kind.




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