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>>VanEck's Ethereum ETF is now listed on DTCC, with regulatory approval for the fund reportedly nearing completion.

VanEck's Ethereum ETF is now listed on DTCC, with regulatory approval for the fund reportedly nearing completion.

crypthub

1/24/2025, 11:53:42 AM

Listing of VanEck's Spot Ether ETF on DTCC

VanEck's spot Ether exchange-traded fund (ETF) has been listed on the Depository Trust and Clearing Corporation (DTCC), a significant step towards approval by the U.S. Securities and Exchange Commission (SEC). The listing, however, is currently inactive, pending regulatory approvals. This comes after Franklin Templeton's spot ETH ETF was also listed on the platform recently.

SEC's Recent Actions and Deadlines

Recent reports indicate that SEC officials have reached out to major exchanges to modify existing spot Ether ETF applications. The final deadlines for decisions on VanEck and ARK's spot Ethereum ETF applications are May 23 and May 24, respectively. This shift is believed to be influenced by political factors, including cryptocurrency gaining traction in political discussions.

Amendments and Speculations

The SEC has requested financial managers to amend and refile their 19b-4 filings for proposed spot Ether ETFs, a move seen as positive by analysts. This comes after Fidelity submitted an amended S-1 application, clarifying that the underlying Ether tokens will not be staked. The recent speculation about spot Ether ETF approvals has positively impacted spot Bitcoin ETFs, with significant inflows into BlackRock's iShares Bitcoin Trust (IBIT).

Market Trends and Fluctuations

Bitcoin reached a six-week high of $71,600 on May 21 but dipped below the $70,000 level the following day. As of the time of writing, Bitcoin is trading at $69,444, reflecting market volatility amid regulatory uncertainties and speculation surrounding ETF approvals.