VanEck Lists Ethereum ETF on DTCC as Approval Nears 🚀🔥

VanEck’s Spot Ether ETF Listed on DTCC

The Depository Trust and Clearing Corporation (DTCC) has listed VanEck’s spot Ether exchange-traded fund (ETF) under the ticker symbol “ETHV.” This move is a significant step towards final approval from the U.S. Securities and Exchange Commission (SEC). However, the ETF is currently inactive on the DTCC website, awaiting regulatory approvals before processing can begin.

More Ether ETFs Listed on DTCC

The listing of VanEck’s Ether ETF on DTCC follows Franklin Templeton’s spot ETH ETF being listed on the platform a month earlier. The DTCC’s list of ETFs includes both active ETFs ready for processing and ETFs that are not yet active and therefore cannot be processed.

Recent reports indicate that SEC officials have contacted Nasdaq, the Chicago Board Options Exchange, and the New York Stock Exchange to update and modify existing spot Ether ETF applications.
The shift in the SEC’s stance is believed to be influenced by political factors, with cryptocurrency gaining favor in recent months.
Speculation suggests that former President Donald Trump’s endorsement of cryptocurrency may have prompted the Biden administration to reassess its policy.

Fidelity Files Amended S-1 Application with SEC

Fidelity recently submitted an amended S-1 application to the SEC for its spot Ether ETF. The updated application clarifies that the underlying Ether tokens of the ETF will not be staked, a crucial detail in the approval process.

S-1 filings are mandatory forms required by the SEC for launching publicly traded securities products in the United States.
Speculation surrounding the approval of spot Ether ETFs has also positively impacted spot Bitcoin ETFs, with increased inflows reported recently.

Hot Take: The Future of Cryptocurrency ETFs

As regulatory bodies like the SEC continue to evaluate and potentially approve cryptocurrency ETFs, the landscape for digital asset investments is evolving rapidly. Stay tuned for more updates on the approval process of VanEck and Fidelity’s Ether ETFs, as they could signal a new era of mainstream acceptance and adoption of cryptocurrencies in traditional financial markets.