VanEck's ETH Spot ETF Registers with DTCC, Moves Closer to Launch
CryptoNewsTerminal Staff21 May, 2024
VanEck's ETH Spot ETF Registers with DTCC, Moves Closer to Launch
VanEck's ether (ETH) spot exchange-traded fund (ETF) has registered with the Depository Trust & Clearing Corp. (DTCC), according to Fox Business reporter Eleanor Terrett. The ticker for the ETF is ETHV. A DTCC registration is a significant step in the process of launching an ETF, as it indicates that the fund has met the necessary requirements to trade on exchanges. However, it is important to note that DTCC registration does not guarantee that the fund will be approved to trade. Franklin Templeton's ETH spot ETF, EZET, previously registered with the DTCC but has yet to be approved by the Securities and Exchange Commission (SEC). It is possible that VanEck's ETHV ETF could face a similar delay. VanEck has not yet announced a launch date for the ETHV ETF. However, the registration with the DTCC suggests that the launch is imminent. If approved, the ETHV ETF would be the first spot ETH ETF to trade in the United States. This would provide investors with a more convenient and regulated way to gain exposure to ETH. The ETF would also be a major milestone for the cryptocurrency industry, as it would further legitimize ETH as an investment asset.
