Informative Insights

BlackRock’s Ethereum spot ETF listed on DTCC under ticker $ETHA

The Ethereum ETF still awaits SEC’s S-1 filing approval.

BlackRock’s spot Ethereum ETF has been listed on the Depository Trust and Clearing Corporation (DTCC) with the ticker symbol $ETHA. The listing follows the US Securities and Exchange Commission’s (SEC) approval of eight spot Ethereum exchange-traded funds (ETFs).

BlackRock's Ethereum spot ETF listed on DTCC under ticker $ETHA

BlackRock’s spot Ethereum ETF on DTCC

The SEC filings list eight Ethereum ETFs from VanEck, Fidelity, Franklin, Grayscale, Bitwise, ARK Invest & 21Shares, Invesco & Galaxy, and BlackRock’s iShares Ethereum Trust, proposed for listing on Nasdaq, NYSE Arca, and the Cboe BZX Exchange, as reported by Crypto Briefing.

Although the SEC has approved the 19b-4 forms associated with these ETFs, trading will remain on hold until the SEC approves each ETF’s S-1 filing. The timeline for this approval process varies, with estimates ranging from a few weeks to several months.

“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,” Bloomberg ETF analyst James Seyffart shared.

The SEC has reportedly begun discussions with ETF issuers regarding S-1 forms. Seyffart suggests that the SEC’s approval of the S-1 filings could take up to five months, after which trading of the spot Ethereum ETFs can commence.

“Typically this process takes months. Like up to 5 months in some examples but [Eric Balchunas] and I think this will be at least somewhat accelerated,” he added.

An SEC spokesperson declined to comment on the recent approval.

READ
10x Your Portfolio In Q3 With Stellar, Sui And Pomerdoge

Briefly after the approval, asset manager VanEck submitted the amended S-1 form to the SEC. The firm also released a 37-second advertisement to celebrate the landmark approval, inviting viewers to “Enter the ether.”

Related posts

Traders Are Expecting This New Meme Coin to Explode After Presale Sells Out in Just Hours

admin

How to Launch Your Own Cryptocurrency: A Comprehensive Walkthrough

admin

Elon & China: Possible Reasons For The Recent Market Panic

admin