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VanEck’s Spot Ether ETF Listed on DTCC, Awaiting SEC Approval Amid Speculation and Political Influence

Amid growing anticipation regarding the approval of a spot Ether exchange-traded fund (ETF) in the United States, global investment manager VanEck’s ETF has been listed by the Depository Trust and Clearing Corporation (DTCC) under the ticker symbol “ETHV” as of May 23.

The DTCC, an American financial market infrastructure provider, offers essential clearing, settlement, and transaction reporting services to financial market participants.

Being listed on the DTCC is a significant step towards receiving final approval from the U.S. Securities and Exchange Commission (SEC).

Currently, VanEck’s ETF is marked as inactive on the DTCC website, meaning it cannot be processed until it secures the necessary regulatory approvals.

Notably, VanEck is not the first to list an Ether ETF with the DTCC; Franklin Templeton’s spot ETH ETF was listed on the platform a month earlier.

The DTCC clarified that their ETF list includes both active ETFs ready for processing and inactive ones awaiting approval.

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In a related development, there are reports that SEC officials have contacted Nasdaq, the Chicago Board Options Exchange, and the New York Stock Exchange to update and revise existing spot Ether ETF applications.

The apparent shift in the SEC’s stance over the past week is believed to be influenced by the White House.

Crypto lawyer Jake Chervinsky observed on X that policy is influenced by politics, noting, “For months, crypto has been winning the political battle.”

He also speculated that former President Donald Trump’s endorsement of cryptocurrency might have prompted the Biden administration to adjust its policy.

The SEC faces a crucial deadline on May 23 for its decision on VanEck’s spot Ether ETF application.

After months of speculation about a likely denial of spot ETH ETFs, the SEC recently took significant action.

The Commission requested financial managers to amend and resubmit their 19b-4 filings for proposed spot Ether ETFs.

Some analysts interpret this move as a positive sign, increasing the likelihood of approval from 25% to 75%.

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Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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