DTCC Lists VanEck Spot Ether ETF
As speculation grows regarding the approval of a spot Ether exchange-traded fund (ETF) on May 23, global investment manager VanEck’s spot ETH ETF has been listed by the Depository Trust and Clearing Corporation (DTCC) under the ticker symbol “ETHV.” The DTCC is a key American financial market infrastructure provider, known for offering services such as clearing, settlement, and transaction reporting to financial market participants. A listing on the DTCC is widely regarded as an essential step before receiving final approval from the Securities and Exchange Commission (SEC).
Currently, VanEck’s ETF is marked as inactive on the DTCC website, indicating that it cannot be processed until it gains the necessary regulatory approvals. It’s worth noting, That VanEck is not the inaugural Ether (ETH) ETF to be listed by the DTCC. Franklin Templeton’s spot ETH ETF was listed on the platform a month earlier.
The DTCC explains that its ETF list includes both active ETFs, which can be processed, and those that are not yet active and thus cannot be processed. Another piece of information has come to light indicating that SEC officials recently reached out to Nasdaq, the Chicago Board Options Exchange, and the New York Stock Exchange to update and amend existing spot Ether ETF applications.
This noticeable shift in the SEC’s attitude over the past week is purported to have ties to the White House. According to crypto lawyer Jake Chervinsky, politics are a key driver of policy decisions, and cryptocurrency has been winning the political battle for months. He also speculated that former President Donald Trump’s endorsement of cryptocurrency might have pushed the Biden administration to alter its policy stance.
The final deadline for the SEC’s verdict on VanEck’s spot Ether ETF is May 23. After several months of anticipation and speculation regarding a possible rejection of the ETH ETF, the SEC made notable moves earlier this week. Specifically, the SEC requested financial managers amend and resubmit their 19b-4 filings concerning their proposed spot Ether ETFs.
This recent request from the SEC has been interpreted as a positive sign by market observers, significantly elevating the potential approval rate for these ETFs. The likelihood of approval has swung from a previously estimated 25% to an encouraging 75%.
It’s clear that both the general public and industry insiders are closely watching the developments, understanding that approval could significantly impact the cryptocurrency market.
The decisions made by the SEC will potentially pave the way for increased legitimacy and broader acceptance of cryptocurrencies in mainstream financial markets. The outcome of VanEck’s ETF application could also set a crucial precedent for future cryptocurrency-based financial products.
While uncertainties remain, the inclining probability of approval has injected a new wave of optimism into the market. This anticipation underscores the evolving nature of cryptocurrency regulation and its intersection with global financial systems.
22 thoughts on “DTCC Lists VanEck Spot Ether ETF”
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Even if they approve it, this painful delay has already shown how out of touch the SEC is with modern financial systems.
VanEck is not even the first! What’s the hold-up? This just seems like unnecessary bureaucracy.
It seems like we are on the cusp of something big. Approval of VanEck’s ETF could change the landscape! 🌍
All these amendments and resubmissions are making it seem like the SEC doesnt even know what they want. Contradictory much?
Ive been following this for months, and honestly, I’m losing hope. SEC needs to get their act together.
VanEcks spot ETH ETF listed on DTCCso close to greater legitimacy and broader acceptance!
The SECs recent actions give us hope! Excited for whats to come in the crypto world.
So frustrating to see the SEC flip-flopping. One day it looks like approval, the next, more amendments. Make up your minds!
A listing on the DTCC is a huge step forward! Lets hope for a final thumbs up from the SEC!
Crypto is on the rise! VanEcks spot ETH ETF approval would be massive for mainstream adoption.
DTCC listings just seem to be another layer of red tape. Can we speed this up, please? 🙄
So much optimism in the air! An ETF approval could really validate Ethereum on a global scale.
Seeing progress with the SECs attitude towards crypto is such a relief. Fingers crossed for a positive outcome!
If it’s just politics driving these decisions, then say goodbye to logical regulations. This is ridiculous. 🗳️
This speculation is creating unnecessary instability in the market. Just decide already! 🌀
Great to see positive moves in the crypto space! VanEck leading the way! 🥳
This uncertainty is messing with investors’ heads. The SEC needs to provide clear guidelines and stick to them!
Super excited about the potential approval of VanEck’s spot ETH ETF! Got my eyes on May 23rd! 👀
A pivotal moment for crypto! VanEcks spot ETH ETF could set the stage for future innovation in the financial markets.
Politics playing a role in crypto adoption… so interesting! Let’s see how this plays out. 📊
The potential approval of VanEck’s ETH ETF is a ray of sunshine in the crypto space. 🌞 Let’s go, SEC! 🙌
Cant wait to see VanEcks spot ETH ETF become active! The market is ready for this.