The Ethereum cryptocurrency exchange-traded fund (ETF) ether (ETH), proposed by asset management company VanEck, has been added to a key site: the Depository Trust and Clearing Corporation (DTCC) listing.
The DTCC is a US entity that provides clearing and settlement services for transactions with financial securities. Listing a financial instrument there is a step that allows its issuer to be ready to begin trading once it receives approval from the securities regulator SEC.
While an instrument's entry into the DTCC list does not guarantee SEC approval, it reflects a positive signal that its issuer is awaiting the green light. The entry of the Ethereum ETF proposed by VanEck here also takes on special relevance , since tomorrow, Thursday, May 23, its evaluation period expires to receive a verdict from the regulator.
It should also be noted that VanEck's proposal is the first to expire of the Ethereum ETF proposals filed with the SEC, as seen below. For this reason, the market remains expectant as to whether it approves all of them at the same time this week so as not to benefit from the launch of one before the other.
In the case of bitcoin (BTC) ETFs , the SEC approved all those that met its requirements when the first proposal was due in January of this year. This happened after they were listed on the DTCC.
VanEck Ethereum ETF Joins DTCC After Franklin Templeton
VanEck's proposed ETF, whose ticker is ETHV as shown below, is the second Ethereum to be listed on the DTCC . The first was requested by the asset management company, Franklin Templeton, in April, under the ticker EZET.
Meanwhile, the rest of those requested are not yet on this key list to be able to operate if they are approved. Therefore, it is possible that they will be added between today and tomorrow.
The entry of VanEck's proposed ETF into the DTCC takes place amid growing expectations of an approval, which led to the rise of ETH. Precisely, the cryptocurrency is trading at its two-month highs, which has boosted its bullish projections.
