The American company Kelly ETFs, which provides trading services for exchange-traded funds, has filed an application with the US Securities and Exchange Commission (SEC) to launch an Ethereum futures ETF.
According to the filing, the Kelly Ethereum Ether Strategy ETF if approved will be available for trading on the Chicago Mercantile Exchange (CME). The fund will not facilitate direct exposure to Ethereum price, the structure of the new Ethereum ETF is similar to the structures of the already approved funds for Bitcoin futures.
This is the only ETH futures ETF application currently pending with the US Securities and Exchange Commission. The regulator has 75 days to review it. However, the SEC may well postpone or even 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%.
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
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.