DTCC Lists Blackrock's Spot Ethereum ETF
05/24/2024 15:53Multiple Ethereum ETFs have been approved by the SEC
BlackRock's spot Ethereum exchange-traded fund (ETF) has been listed by the Depository Trust and Clearing Corporation under the ETHA ticker.
On Thursday, the U.S. Securities and Exchange Commission greenlit 19b-4 forms from several Ethereum ETFs from such issuers as BlackRock, Fidelity, VanEck, and other firms.
As reported by U.Today, the SEC was widely expected to shoot down these funds just a week ago. However, the agency made a last-minute U-turn in a truly shocking move.
Now that the SEC has approved 19b-4s listing requests, it is now engaging with potential issuers over S-1 registration statements.
For Ethereum ETFs to begin trading, each corresponding S-1 registration statement is also approved. Hence, it is now clear when these ETFs will actually start trading.
“This does not mean they will begin trading tomorrow. This is just 19b-4 approval. Also needs to be an approval on the S-1 documents which is going to take time. We’re expecting it to take a couple weeks but could take longer. Should know more within a week or so!” James Seyffart said on the X social media network.
Sell the news?
After experiencing a massive rally, the ETH price has now pared some gains, currently trading at $3,629 on the Bitstamp exchange.
Prominent trader John Bollinger recently warned that Ethereum’s rally was overextended.
About the author
Alex Dovbnya
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].
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