Ethereum ETF Approval Anticipation Reaches New Heights
The anticipation surrounding the potential approval of a spot Ethereum exchange-traded fund (ETF) has reached new heights as VanEck’s proposed product has been listed on the Depository Trust and Clearing Corporation’s (DTCC) new securities list under the ticker $ETHV.
Key Developments in the Approval Process
- VanEck’s proposed spot Ethereum ETF listed on DTCC’s new securities list under the ticker $ETHV
- SEC directed U.S. firms to update and refile their 19b-4 forms for proposed spot Ether ETFs
- Bloomberg ETF analysts estimate a 75% chance of SEC approval for a spot Ethereum ETF
- Standard Chartered projects Ethereum’s price could reach $8,000 by year-end
- Ethereum (ETH) price increased by 31% over the past 7 days, trading at around $3,700
Understanding the DTCC Listing and SEC Approval
While VanEck’s spot Ethereum ETF has been included on the DTCC’s new securities list, it is essential to note that the product remains inactive and requires SEC approval before becoming operational.
The DTCC, a notable provider of post-trade services, lists both active and pre-launch funds, with VanEck’s ETF categorized as inactive until regulatory approvals are secured.
Shift in Regulatory Landscape for Spot Ethereum ETF
- SEC directed U.S. firms to update 19b-4 forms for proposed spot Ether ETFs
- Cboe BZX exchange posted amended forms for spot Ether ETFs from various firms
- Market analysts estimate a high chance of SEC approval for a spot Ethereum ETF
- Standard Chartered bullish on Ethereum’s price, foreseeing it reaching $8,000
- Ethereum’s price surged 31% in the past week, reaching around $3,700
Impact on Ethereum’s Price and Market Sentiment
The positive developments surrounding the approval of a spot Ethereum ETF have significantly impacted the cryptocurrency’s price, driving it to new highs with growing optimism and increasing odds of approval.
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