BlackRock ETH ETF Officially Listed On DTCC Website
The BlackRock Ethereum ETF, known as $ETHA, has reportedly been listed on the Depository Trust and Clearing Corporation (DTCC), following approval by the United States Securities and Exchange Commission (SEC). The move comes shortly after the SEC approved several spot Ether ETFs.
Key Details
The SEC has also greenlit eight other spot Ethereum exchange-traded funds (ETFs). These ETFs, proposed by various entities including VanEck, Fidelity, Franklin, Grayscale, Bitwise, ARK Invest & 21Shares, Invesco & Galaxy, and the BlackRock iShares Ethereum Trust, are slated for listing on Nasdaq, NYSE Arca, and the Cboe BZX Exchange.
However, it is important to note that trading will not begin immediately, as this largelyt depends on the S-1 filing approval for each of the ETFs. This approval process could take weeks to several months, depending on numerous factors and changing circumstances.
Time For Ether
Bloomberg ETF analyst James Seyffart noted that while the 19b-4 approval is certainly a significant step in the right direction, trading will not start until the SEC approves the S-1 documents as previously mentioned, a process that is notorious for being plagued with multiple delays.
Thus far, the SEC has initiated discussions with ETF issuers regarding the S-1 forms, with Seyffart estimating a potential five-month approval timeline. Following initial approval by the SEC, VanEck swiftly submitted an amended S-1 form. Additionally, the firm released a brief advertisement celebrating the approval, encouraging viewers to Enter the Ether.
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