VanEck Ethereum Spot ETF Listed on DTCC, Awaiting SEC Approval

Author : Andrew Stauss | Published On : 22 May 2024

VanEck filed for its spot Ethereum ETF in September 2023, navigating a challenging regulatory environment. The DTCC listing follows recent amendments to 19b-4 forms from Cboe, reflecting changes like the removal of staking-related content. 

These revisions align with SEC requirements and include filings from other major players like Fidelity, Invesco/Galaxy, Ark/21Shares, and Franklin Templeton, suggesting a strategic push to accelerate the approval process.

Analysts Eric Balchunas and James Seyffart now estimate a 75% chance of SEC approval for the Ethereum spot ETF, attributing the optimism to these recent changes. The listing of Franklin Templeton’s Ethereum spot ETF on the DTCC underscores the growing interest in Ethereum-based investment products. As of press time, Ethereum is trading at $3,755, up 3% in the past 24 hours and showing a weekly surge of 30%, with its market cap climbing above $450 billion despite a trading decline to $33 billion.