- VanEck’s spot Ethereum ETF listed by DTCC, pending SEC approval.
- DTCC designates “ETHV” symbol for VanEck’s Ethereum product, not yet operational.
- SEC instructs firms to resubmit spot Ethereum ETF applications, signaling potential approval.
Investment management behemoth VanEck has witnessed its spot Ethereum exchange-traded fund (ETF) being listed on the roster of ETFs managed by the Depository Trust and Clearing Corporation (DTCC).
The DTCC, a prominent financial market infrastructure provider in the United States known for its services in post-trade processing, including clearance, settlement, custody, and information dissemination, has verified this new inclusion on its official website.
It is important to note that VanEck’s spot Ethereum ETF’s inclusion on the DTCC’s list represents an initial step and does not equate to the fund’s complete introduction to the market. The ETF is still pending approval from the U.S. Securities and Exchange Commission (SEC), and it requires similar regulatory filings as those from major industry players such as BlackRock and Fidelity.
Additionally, in the create/redeem section, the VanEck spot Ethereum ETF status is indicated by an “N,” which denotes that the fund is not yet operational. The DTCC pointed this out.
“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.”
The securities clearing corporation, which is registered with the SEC, has designated the symbol “ETHV” for VanEck’s spot Ethereum product.
This week, it was reported that the SEC had instructed American companies to revise and resubmit their 19B-4 applications related to their spot Ethereum ETF proposals. Some have taken this development as a hopeful sign, suggesting that the SEC may soon grant its approval. The 19B-4 forms are crucial as they inform the SEC of a proposed rule change, which must be approved by the commission before spot Ethereum ETFs can be launched. Industry experts suggest that while the SEC may authorize the 19B-4 filings, it could delay approval of the S-1 filings.
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