Kelly Strategic Management Files Application to Launch an Ethereum ETF
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Nov. 30, 2021
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Investment firm Kelly Strategic Management has filed an application with the US Securities and Exchange Commission (SEC) to register an exchange-traded fund (ETF) based on Ethereum futures.

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

The Kelly Ethereum Ether Strategy ETF will target the purchase of Ether futures traded on the Chicago Mercantile Exchange (CME).

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If the limit of 8,000 contracts (50 ETH each) is reached, the structure will switch to the purchase of long-dated futures. The investment statement also allows for the purchase of fixed-income instruments.

Bloomberg analysts believe the chances of such an ETF being approved are 20%.

WisdomTree and Kryptoin has previously applied to launch ETFs based on Ethereum futures.

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