BlackRock's Ethereum Spot ETF Receives DTCC Listing as $ETHA

BlackRock's Ethereum spot ETF has secured a listing on the Depository Trust and Clearing Corporation (DTCC) under the ticker symbol $ETHA. This listing comes following the approval by the US Securities and Exchange Commission (SEC) of eight spot Ethereum exchange-traded funds (ETFs).

BlackRock’s spot Ethereum ETF onDTCC

Waiting Game: SEC Approval Process for ETH ETFs

Trading for these ETFs remains pending 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. Bloomberg ETF analyst James Seyffart commented on the timeline, stating it could take a couple of weeks or even longer for the S-1 documents to gain approval.

Extended Timeline: SEC's Potential Five-Month Approval Process for ETH ETFs

Seyffart noted that the SEC's approval of the S-1 filings could potentially extend up to five months, delaying the commencement of trading for the spot Ethereum ETFs. However, he remains cautiously optimistic about a potentially accelerated process.

The SEC has reportedly initiated discussions with ETF issuers regarding the S-1 forms, but declined to provide an official comment on the recent approval.

Shortly after the approval, asset manager VanEck submitted an amended S-1 form to the SEC. Additionally, the firm released a brief 37-second advertisement celebrating the milestone, encouraging viewers to "Enter the ether."

While BlackRock's Ethereum spot ETF has achieved a significant milestone with its DTCC listing, the commencement of trading awaits further SEC approvals. Delays in the approval process may prolong the wait for investors interested in these ETFs.