Ethereum
VanEck’s Ethereum ETF Listed on DTCC Ahead of SEC Decision
As the crypto world eagerly awaits the potential approval of an Ethereum (ETH) spot exchange-traded fund (ETF) in the United States, global investment firm VanEck has taken another step forward. Company ETF was listed by the Depository Trust and Clearing Corporation (DTCC) under the symbol “ETHV”.
DTCC, a critical provider of financial markets infrastructure in the United States, provides clearing, settlement and transaction reporting services to financial market participants. A listing on the DTCC platform is considered a vital step before receiving the final green light from the US Securities and Exchange Commission (SEC).
Currently, VanEck’s ETF is marked as inactive on the DTCC website, indicating that it cannot be traded until it obtains the necessary regulatory approvals. However, VanEck is not alone in this adventure. Franklin Templeton’s ETH spot ETF was also listed on the platform a month before.
DTCC clarified that its ETF list includes both active ETFs that can be processed by DTCC and those that are not yet active and therefore cannot be processed at this time.
Interestingly, reports suggest that SEC officials have been in contact with major exchanges, such as Nasdaq, the Chicago Board Options Exchange and the New York Stock Exchange, to update and modify existing Ether ETF spot applications.
The SEC’s sudden change in position over the past week has sparked speculation about the White House’s influence on the issue. Crypto lawyer Jake Chervinsky noted that politics is driven by politics, and cryptocurrency is gaining ground in the political battle. He also suggested that the former president Donald Trump’s Endorsement for Cryptocurrency This could have prompted the Biden administration to reconsider its policy.
It’s hard to believe that this SEC would do us any favors, like approving the ETH spot ETF.
But politics is politics, and crypto has been winning the political battle for months.
Perhaps the Biden camp saw how many voters Trump could win over with just one pro-crypto comment and decided to pivot.
– Jake Chervinsky (@jchervinsky) May 21, 2024
Decision Deadline for Ethereum ETF
As the final deadline for the SEC’s decision on the VanEck spot Ether ETF application approaches on May 23, the crypto community remains anxious and divided. The news follows ETH’s recent surge of over 21% in 24 hours. speculation that an Ethereum ETF could be approved soon.