The spotlight shines brightly on the Ethereum market as two major investment firms, VanEck and Franklin Templeton, witness their spot Ethereum ETFs listed on the Depository Trust & Clearing Corporation (DTCC). This noteworthy development has occurred just days before the Securities and Exchange Commission’s (SEC) decision deadline, igniting expectations of potential regulatory approval.
DTCC, a renowned American post-trade financial services company, listed VanEck’s spot Ethereum ETF, dubbed “ETHV,” this past Tuesday. The presence of such a product on DTCC is being interpreted by market participants as a positive signal for the forthcoming regulatory decision. Similarly, Franklin Templeton’s spot ETH ETF, “EZET,” found itself in DTCC’s listing last month. The accumulation of inactive spot ETH ETFs on DTCC now totals to two, bolstering the chances of an affirmative SEC ruling.
Historically, pre-launch classifications of products on DTCC have preceded regulatory validation, as was the case with spot Bitcoin ETFs, which saw their listings multiply from October to December 2023 before securing approval in January 2024.
Preparing for a potentially favorable outcome, five investment firms — notably, VanEck, Franklin Templeton, Fidelity, ARK 21shares, and Invesco Galaxy — have taken proactive measures by amending their SEC filings (19b-4). These amendments are designed to align with the expectations of a spot ETH ETF green light, further demonstrating the industry’s confidence in positive regulatory action.
This optimism is echoed in a dramatic reassessment by Bloomberg analysts, who escalated the probability of spot ETH ETF approvals soaring to 75% from a mere 25%. This significant upgrade from the previous “slim to none” forecast is a testament to the shifting landscape and growing belief in imminent regulatory endorsement.
Backing this sentiment are influential financial institutions such as Standard Chartered Bank, which has publicly advocated for the approval of spot ETH ETFs. Furthermore, recent reports from Barron’s suggest that SEC staff members are inclined to support approval, reinforcing the anticipatory atmosphere within the cryptocurrency community.
As the Ethereum community holds its breath, the ripples of these developments are palpably felt in the markets. Ethereum has embarked on a rally, with its price hovering around $3,700 at the time of this report. Such market reactions reflect the high stakes and the potentially transformative impact of the SEC’s impending decision, which could herald a new era of cryptocurrency-based financial products. As industry observers and investors alike await Thursday’s deadline, the listings on DTCC stand as beacons of what the future may hold for Ethereum and its place in the investment world.
