According to Balchunas, SEC Chairman Gary Gensler is “not mentally prepared” to approve anything other than a Bitcoin (BTC) futures ETF at this time:
“” During the Bitcoin futures filing process in August, VanEck and ProShares also filed Ether ETFs. The SEC told them to withdraw them. Now it’s been 3 months (and 3 successful launches of Bitcoin futures ETFs) ”
According to a November 29 filing with the United States Securities Commission (SEC), the Kelly Ethereum Ether Strategy ETF will invest in cash-settled Ether futures contracts that are traded on the Chicago Mercantile Exchange (CME). Bloomberg Senior ETF Analyst Eric Balchunas noted on Twitter today that Kelly’s Ether ETF may have a slim 20% chance of getting approved as he wonders if the “SEC is ready for this next step. ”