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VanEck’s Spot Ether ETF Listed on DTCC
VanEck’s spot Ether exchange-traded fund (ETF) has been listed on the Depository Trust and Clearing Corporation (DTCC) under the ticker symbol “ETHV.” This listing is a significant milestone towards final approval from the U.S. Securities and Exchange Commission (SEC).
DTCC’s Role in ETF Listings
The DTCC, a key American financial market infrastructure provider, plays a vital role in clearing, settlement, and transaction reporting services. The listing of VanEck’s ETF on the DTCC is a crucial step in the approval process.
More Ether ETFs Listed on DTCC
Franklin Templeton’s spot ETH ETF was also listed on the DTCC platform earlier, indicating a growing interest in Ether ETFs. The list on DTCC includes both active and inactive ETFs, awaiting regulatory approvals.
SEC’s Stance on Ether ETFs
Recent reports suggest that the SEC has been actively engaging with major exchanges like Nasdaq, the Chicago Board Options Exchange, and the New York Stock Exchange to update existing spot Ether ETF applications. Political factors, including increased support for cryptocurrency, may be influencing the SEC’s decisions.
Deadline for SEC’s Decision
The final deadline for the SEC’s decision on VanEck’s spot Ether ETF application is approaching on May 23. Recent actions by the SEC, such as requesting amendments to ETF filings, have raised optimism among analysts regarding approval chances.
Fidelity’s Amended S-1 Application
Fidelity recently filed an amended S-1 application with the SEC for its spot Ether ETF, specifying that the underlying Ether tokens will not be staked. Such filings are essential for launching publicly traded securities products in the U.S.
Boost in Bitcoin ETFs
The speculation surrounding Ether ETF approvals has also impacted Bitcoin ETFs positively. BlackRock’s iShares Bitcoin Trust (IBIT) experienced a significant inflow of funds on May 21, indicating renewed investor interest in cryptocurrency ETFs.
Market Update
On May 21, BTC reached a six-week high before a slight dip in early trading on May 22. The current trading price is $69,444, reflecting the dynamic nature of cryptocurrency markets.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
