2021-12-1 20:31 |
Kelly Strategic Management has filed for an Ether Futures exchange-traded fund (ETF) with the US Securities and Exchange Commission (SEC).
The Kelly Ethereum Ether Strategy ETF is an actively managed fund that will invest in cash-settled Ether futures contracts traded on CME, as per the filing.
In February of this year, CME launched Ether futures, and it limits these futures contracts to 8,000 contracts for an applicable month, with each contract representing 50 ETH.
CME will also be rolling out micro Ether futures that will be one-tenth of one Ether on Dec. 6. Micro Ether futures would provide an efficient, cost-effective way for individual and institutional investors to hedge their price risk as liquidity in Ether futures contracts grows steadily among institutional traders, said CME at the time.
The second-largest cryptocurrency is enjoying an uptrend today as it surpassed $4,740, up 520% YTD, only to follow Bitcoin and drop back to $4,585 as of writing.
This move from the Denver-based firm comes about three months after VanEck and ProShares pulled their similar filings following several Bitcoin Futures ETF applications. It was speculated at the time that the SEC pushed back on Ether futures ETF.
Last month, two Bitcoin futures-based ETFs from ProShares and Valkyrie went public after SEC chair Gary Gensler said futures contracts provide sufficient and better investor protection than spot Bitcoin.
Thanks to the first-move advantage, ProShares Bitcoin Strategy ETF (BITO) is holding $1.4 billion in assets under management.
Ethereum/USD ETHUSD 4,733.0977 $295.35 6.24% Volume 29.59 b Change $295.35 Open$4,733.0977 Circulating 118.56 m Market Cap 561.14 b baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[scripts.length - 1]; var cccTheme = {"Chart": {"fillColor": "rgba(248,155,35,0.2)", "borderColor": "#F89B23"}}; (function () { var appName = encodeURIComponent(window.location.hostname); if (appName == "") { appName = "local"; } var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl + 'serve/v1/coin/chart?fsym=ETH&tsym=USD'; s.src = theUrl + (theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); var single_widget_subscription = single_widget_subscription || []; single_widget_subscription.push("5~CCCAGG~ETH~USD"); The post Investment Firm Launches Another Attempt at Ether Futures ETF With Kelly Ethereum Ether Strategy ETF first appeared on BitcoinExchangeGuide.Similar to Notcoin - Blum - Airdrops In 2024