BlackRock’s Spot Ethereum ETF Has Been Listed On The DTCC

BlackRock’s spot Ethereum ETF just got listed on Depository Trust and Clearing Corporation (DTCC). The spot ETF is listed under the ticker symbol $ETHA. The listing comes after the SEC approved eight spot ETFs yesterday. 

Yesterday, the U.S. Securities and Exchange Commission approved eight Ethereum Exchange-Traded Funds (ETFs). The approved ETH ETF applications came from well-known asset management firms in the crypto industry.

The SEC filings listed the ETH ETFs from Blackrock’s iShares Ethereum Trust, ARK Invest, Grayscale, Franklin Templeton, Fidelity, Galaxy, Bitwise, and Invesco.

Also Read: Boothbay Fund Now the Largest Reported Holder of the BlackRock, Fidelity, and Bitwise ETFs

All the ETFs sought listing on NASDAQ, Cboe BZX Exchange, and NYSE Acra.

BlackRock’s ETF Is on DTCC

The asset management firms got to work immediately after the SEC approved spot Ethereum ETFs. Blackrock’s spot Ethereum ETF got listed on DTCC. The Spot ETF will trade under the ticker symbol $ETHA. 

Investors will have to wait a little longer to invest in these assets. According to experts, getting these ETH ETFs to start trading could take weeks, if not months.

Also Read: Blackrock’s New Spot Ethereum ETF Filing Excludes Staking

At this time, the SEC gave the green light for the 19b-4 forms of the ETH ETFs. In order to trade, the asset management firms would need to get approvals for their ETH ETF S-1 filing.

BlackRock Awaits S-1 Filing Approval

The SEC’s approval of ETH ETFs is a milestone achievement towards getting the spot ETFs trading on exchange platforms. According to James Seyffart, a CFA and ETF analyst, the process usually takes months.

TO BE CLEAR: 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 (@JSeyff) May 23, 2024

He also added that he and Eric Balchunas, a senior ETF analyst, think this time, the approval process may be much faster than it has always been.

SEC Talks with ETF Issuers

The SEC had already initiated conversations with Ethereum ETH issuers ahead of its landmark decision to uphold ETH ETFs. The discussions were centered around S-1 filings, which are vital in the process. The S-1 filings are important for the ETFs to become tradable as intended.

 

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Cryptopolitan reporting by Collins J. Okoth