Road To Approval? The First Spot Ethereum ETF Has Landed On The DTCC Website

Franklin Templeton Ethereum Spot ETF The ticker appeared on the Deposit Clearing Corporation (DTCC) listing indicates a possible signal that the U.S. Securities and Exchange Commission (SEC) may approve an Ethereum ETF.

Franklin Templeton’s Spot Ethereum ETF will be listed on DTCC

On Friday, April 26th, the Ethereum Spot ETF proposed by American multinational investment firm Franklin Templeton was announced. debut On DTCC’s official website, you can find it under the ticker symbol EZET.

Franklin Templeton’s new listing on the DTCC platform comes amid ongoing deliberations. SEC regarding approval of Ethereum Spot ETF. Following the approval and launch of a Spot Bitcoin ETF in early January, many analysts were predicting the emergence of a Spot Bitcoin ETF. Additional crypto ETFsspeculation has focused on Ethereum being the next candidate to receive ETFs after Bitcoin.

However, despite prominent financial services companies such as BlackRock, Grayscale, and VanEck; fidelity Any other person submitting an application for the Ethereum Spot ETF, Approval from the US SEC has been consistently delayed.

The regulator revealed this in a recent report. filing On Tuesday, April 23, Franklin Templeton announced that it would allow a longer period of time to determine the appropriate course of action regarding its proposed Spot Ethereum ETF. grayscale. The committee had scheduled a new deadline of June 11 for approval or recognition. Reject Ethereum Spot ETF proposal.

What does this movement look like? is expected According to other crypto and financial experts in the industry, including Standard Chartered analysts and CEO Van Eck, Jan Van Eck has previously expressed skepticism about the possibility of the US SEC approving an Ethereum Spot ETF soon. He expressed an attitude.

Ethereum is now trading at $3,120. Chart: TradingView

Is an initial listing a sign that approval is imminent?

The recent addition of Franklin Templeton’s proposed Ethereum Spot ETF to the DTCC listing is considered the first step in the trading process and guarantees approval from the SEC, which has sole authority for green light and approval. isn’t it. Refuse such investment products.

Before the Spot Bitcoin ETF was approved, DTCC listed BlackRockpreviously proposed a spot Bitcoin ETF on its platform, fueling speculation and raising hopes for possible approval by the SEC.However, after that, the clearing company BlackRock Bitcoin ETF removed from platformclarified that this listing does not imply approval of the Spot Bitcoin ETF application by the SEC.

While approval of the Ethereum Spot ETF is expected, the US SEC remains ambiguous about its position. Eric Balciunas, senior analyst at Bloomberg ETFs, also made the announcement in early March. Ethereum ETF approval probability is only 25%reflecting a rather pessimistic outlook.

Overall, the broader crypto market is still closely monitoring developments surrounding Franklin Templeton. Ethereum Spot ETF Applications of Other Financial Companies Along with the SEC’s final decision, it acknowledges the possibility of approval as a significant step forward in the field of digital assets.

Featured images from Pexels, charts from TradingView

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