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DTCC Lists Blackrock's Spot Ethereum ETF

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Fri, 24/05/2024 - 8:53
DTCC Lists Blackrock's Spot Ethereum ETF
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BlackRock's spot Ethereum exchange-traded fund (ETF) has been listed by the Depository Trust and Clearing Corporation under the ETHA ticker. 

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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.

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