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Kelly Strategic Management files for Ethereum futures ETF with SEC

Barely three months after VanEck and ProShares suddenly withdrew their ETH futures ETF applications Denver-based investment firm Kelly Strategic Management has gone ahead to file...
Kelly Strategic Management files for Ethereum futures ETF with SEC © Reuters Kelly Strategic Management files for Ethereum futures ETF with SEC

Barely three months after VanEck and ProShares suddenly withdrew their ETH futures ETF applications Denver-based investment firm Kelly Strategic Management has gone ahead to file for an exchange-traded fund (ETF) offering exposure to Ethereum (ETH) futures contracts.

The Kelly Ethereum Ether Strategy ETF intends to invest in cash-settled Ether futures contracts traded on the Chicago Mercantile Exchange (CME), according to a Nov. 29 filing with the U.S. Securities and Exchange Commission (SEC).

Senior ETF analyst at Bloomberg, Eric Balchunas, stated via Twitter (NYSE:TWTR) that there is a slim 20% probability that the Kelly Ether ETF will be approved, as he was not convinced that the “SEC is ready for this new step.”

In his opinion, SEC chairman Gary Gensler is “not mentally ready” at this stage to approve anything apart from a Bitcoin (BTC) futures ETF.

During the Bitcoin futures filing process in Aug, VanEck and ProShares filed for Ether ETFs too. SEC told them to withdraw them. It's now 3 months (and 3 successful Bitcoin ETF futures ETF launches) later.
He added that if there was any atom of truth in the rumors which suggests that the SEC told VanEck and ProShares to withdraw their respective Ether ETF filings because they provided exposure to crypto assets other than BTC, then the Kelly’s ETF would have only a 1% chance of approval.

Researcher Jason Lowery also commented on the subject, noting that:

I would be surprised if SEC approved an ETH ETF b/c it tacitly signals acceptance of ETH as not being an unregistered security.
The SEC gave the green light to multiple BTC futures ETFs in the latter part of 2021. However, it appears that the regulatory body is no longer willing to endorse any type of fund that offers exposure to crypto outside of CME BTC futures contracts.

Still on the matter, the global head of ETFs and indexed strategies at Invesco, Anna Paglia, explained earlier this month that her firm’s decision to withdraw its BTC Futures ETF was because the SEC only approves Bitcoin ETFs with 100% exposure to Bitcoin futures. The initial purpose of Invesco’s ETF was to provide a blend of futures swaps, physical Bitcoin, and private funds in the Bitcoin industry, a purpose which was defeated due to the Commission’s policies.

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28-03-2024 21:37:20 (UTC+7)

EUR/USD

1.0805

-0.0021 (-0.19%)

Summary

Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (4)

Sell (3)

EUR/USD

1.0805

-0.0021 (-0.19%)

Summary

Buy

Moving Avg:

Buy (9)

Sell (3)

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Buy (4)

Sell (3)

GBP/USD

1.2637

-0.0001 (-0.01%)

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Sell

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Buy (4)

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Buy (1)

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USD/JPY

151.29

-0.03 (-0.02%)

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↑ Buy

Moving Avg:

Buy (10)

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Buy (4)

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AUD/USD

0.6514

-0.0019 (-0.29%)

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↑ Buy

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USD/CAD

1.3560

-0.0007 (-0.05%)

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EUR/JPY

163.42

-0.33 (-0.20%)

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Neutral

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EUR/CHF

0.9749

-0.0037 (-0.38%)

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Neutral

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Gold Futures

2,229.60

+16.90 (+0.76%)

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↑ Buy

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Silver Futures

24.777

+0.025 (+0.10%)

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↑ Buy

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Copper Futures

4.0012

+0.0012 (+0.03%)

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Crude Oil WTI Futures

82.36

+1.01 (+1.24%)

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↑ Sell

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Brent Oil Futures

86.32

+0.91 (+1.07%)

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Natural Gas Futures

1.743

+0.025 (+1.46%)

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Neutral

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US Coffee C Futures

188.30

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Euro Stoxx 50

5,090.85

+9.11 (+0.18%)

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↑ Buy

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S&P 500

5,252.84

+4.35 (+0.08%)

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DAX

18,501.55

+26.49 (+0.14%)

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FTSE 100

7,968.25

+36.27 (+0.46%)

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Hang Seng

16,541.42

+148.58 (+0.91%)

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Neutral

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US Small Cap 2000

2,126.55

+12.20 (+0.58%)

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IBEX 35

11,095.46

-15.84 (-0.14%)

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BASF SE NA O.N.

52.950

-0.300 (-0.56%)

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Bayer AG NA

28.55

+0.13 (+0.46%)

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Allianz SE VNA O.N.

276.73

-0.72 (-0.26%)

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Adidas AG

207.60

+2.90 (+1.42%)

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↑ Buy

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Deutsche Lufthansa AG

7.288

+0.111 (+1.55%)

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Siemens AG Class N

176.95

+0.03 (+0.02%)

Summary

↑ Sell

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Deutsche Bank AG

14.585

-0.027 (-0.18%)

Summary

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Indicators:

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Sell (9)

 EUR/USD1.0805Buy
 GBP/USD1.2637Sell
 USD/JPY151.29↑ Buy
 AUD/USD0.6514↑ Buy
 USD/CAD1.3560↑ Buy
 EUR/JPY163.42Neutral
 EUR/CHF0.9749Neutral
 Gold2,229.60↑ Buy
 Silver24.777↑ Buy
 Copper4.0012↑ Buy
 Crude Oil WTI82.36↑ Sell
 Brent Oil86.32↑ Sell
 Natural Gas1.743Neutral
 US Coffee C188.30Buy
 Euro Stoxx 505,090.85↑ Buy
 S&P 5005,252.84↑ Buy
 DAX18,501.55↑ Buy
 FTSE 1007,968.25↑ Buy
 Hang Seng16,541.42Neutral
 Small Cap 20002,126.55↑ Buy
 IBEX 3511,095.46Buy
 BASF52.950↑ Sell
 Bayer28.55↑ Sell
 Allianz276.73↑ Sell
 Adidas207.60↑ Buy
 Lufthansa7.288↑ Buy
 Siemens AG176.95↑ Sell
 Deutsche Bank AG14.585↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank7,880/ 8,050
(0/ 0) # 1,398
SJC HCM7,900/ 8,100
(10/ 10) # 1,450
SJC Hanoi7,900/ 8,102
(10/ 10) # 1,452
SJC Danang7,900/ 8,102
(10/ 10) # 1,452
SJC Nhatrang7,900/ 8,102
(10/ 10) # 1,452
SJC Cantho7,900/ 8,102
(10/ 10) # 1,452
Cập nhật 28-03-2024 21:37:22
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ↀ Giá vàng thế giới
$2,207.69+16.670.76%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V24.69025.180
RON 95-III24.28024.760
E5 RON 92-II23.21023.670
DO 0.05S21.01021.430
DO 0,001S-V21.64022.070
Dầu hỏa 2-K21.26021.680
ↂ Giá dầu thô thế giới
WTI$82.09+4.660.06%
Brent$86.19+4.550.06%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD24.580,0024.950,00
EUR26.018,3427.446,04
GBP30.390,9531.684,00
JPY158,69167,96
KRW15,8419,20
Cập nhật lúc 18:53:18 28/03/2024
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