Investment Firm Kelly Files for Ether Futures ETF

Posted on by American Coins & Gold

Investment Firm Kelly Files for Ether Futures ETF
Kelly Strategic Management, an Investment firm headed by Kevin Kelly, has filed for an exchange-traded fund (ETF) tied to ether futures just three months after ProShares and VanEck pulled similar filings.The Kelly Ethereum Ether Strategy ETF is an actively-managed fund that will invest in cash-settled Ether futures contracts traded on registered commodity exchanges. The value of futures contracts is tied to the underlying reference asset, which is ether in this case. “Cash-settled” means that if the futures contract expires with ether’s value above the futures contract price, the purchaser pays the seller the difference in cash.The Chicago Mercantile Exchange (CME)…