The DTCC is a major provider of post-trade financial services, which lists both active and pending ETFs on its site.
By Mayowa Adebajo
Edited by Julia Sakovich
Updated
3 mins read
Global investment manager VanEck has added its spot Ether exchange-traded fund (ETF) to the Depository Trust and Clearing Corporation’s (DTCC) website. While the move does not equate to a full launch, it is an anticipatory step towards regulatory approval from the US Securities and Exchange Commission.
Besides, the DTCC is a major provider of post-trade financial services, which lists both active and pending ETFs on its site. On the site, VanEck’s spot Ethereum ETF is listed under the ticker “ETHV”, but it is currently marked as “N” in the create/redeem column, indicating it is not yet active. A website statement reads:
“This file includes both active ETFs that may be processed at DTCC and ETFs that are not yet active (“pre-launch”) and, therefore, are not able to be processed at DTCC, unless and until such securities have received all necessary regulatory and other approvals.”
VanEck confirmed their ETF’s inclusion on the DTCC list, although the DTCC has not yet provided further comments. This listing comes following a recent request by the SEC for US issuers to amend and refile their 19b-4 forms for the proposed spot Ether ETFs.
Expectedly, the request resonated well with all concerned parties and has been thought to be a positive sign that the highly-anticipated regulatory approval might be imminent. The importance of the 19b-4 forms can not be overemphasized. They notify the SEC about proposed rule changes that are necessary for these ETFs to become operational.
On Tuesday, the Cboe BZX Exchange published a list of issuers that have updated their 19b-4 forms for spot Ether ETFs. They include Franklin Templeton, Fidelity, VanEck, Invesco Galaxy, as well as Ark Invest and 21Shares. However, a new report from Fox News journalist Eleanor Terrett suggests that CoinShares and Valkyrie have decided not to pursue spot Ether ETFs.
The addition of VanEck’s spot Ethereum ETF to the DTCC list, combined with the SEC’s recent move, has fueled speculation within the investment community. That is, about the future of these digital asset funds.
The SEC has always had a history of cautious and stringent regulatory processes. This has kept spot crypto ETFs from gaining approval in the US market, despite significant interest and demand.
For context, it took over 11 years for the regulator to approve spot Bitcoin ETFs earlier this year. Moreover, there are reasons to remain skeptical about the approval of spot Ether ETFs. One major reason is that there is an ongoing investigation into Ether’s status as a potential security.
Although VanEck’s spot Ethereum ETF listing on the DTCC website is a promising development, the ultimate green light from the SEC remains the biggest challenge. Investors and market observers will be closely watching the SEC’s next moves. Hopefully, it’s about to be the start of a new era of Ether ETFs and digital asset investments at large.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his style of writing. He strongly believes in the potential of digital assets and takes every opportunity to reiterate this. He's a reader, a researcher, an astute speaker, and also a budding entrepreneur. Away from crypto however, Mayowa's fancied distractions include soccer or discussing world politics.
