Kelly Strategic Management files to launch Ethereum futures ETF

The investment firm Kelly Strategic Management has filed with the SEC to register an Ethereum futures ETF.

The filing complies with the Securities Act of 1933 and the Investment Company Act of 1940.

The Kelly Ethereum Ether Strategy ETF seeks to acquire CME futures on the second-largest cryptocurrency.

If the exchange reaches the 8,000-contract limit (each 50 ETH), the fund will switch to purchasing long-dated futures. The investment prospectus also permits the purchase of fixed-income instruments.

Bloomberg analysts Eric Balchunas and James Seyffart pegged the odds of approval at 20%.

Just had quick chat with @JSeyff and our early, rough odds of approval of this ETF is about 20% unless this @twobitidiot rumor is correct, then we’d obv go way lower like 1% (altho we still see multiple ETFs holding $ETHE) https://t.co/Ba4yRMsGS6

— Eric Balchunas (@EricBalchunas) November 29, 2021

Bloomberg analysts predicted the launch of a futures Ethereum ETF ahead of a Bitcoin spot ETF.

Earlier, applications to launch futures Ethereum-ETH were submitted by WisdomTree and Kryptoin.

Subscribe to ForkLog news on VK!