Financial services firm Franklin Templeton has listed its new spot Ethereum (ETH) exchange-traded fund (ETF) with the Depository Trust and Clearing Corporation (DTCC).
On its product offering page, the DTCC has listed Ethereum-based exchange-traded products (ETPs) from major financial giants, including Franklin Templeton’s Ethereum TR Ethereum ETF (EZET).
Founded in 1999, the DTCC is a post-trade financial services provider that provides clearing and settlement services for markets. The DTCC website regularly lists securities as eligible for trading, including ETFs that have gone through the appropriate approval process.
However, listing on DTCC does not guarantee that the ETF will be approved by regulators.
In recent months, Franklin Templeton and other companies – such as BlackRock, Hashdex, Bitwise and ARK Invest – have filed with the US Securities and Exchange Commission (SEC) to create ETH-based ETFs in the spot market.
In March, the regulatory body said it needed more time to consider the matter and postponed making its decision until the end of May.
Last week, Bloomberg ETF analyst Eric Balchunas said the chances of the SEC approving an ETH ETF in the spot market are slim.
“I believe the final due date is May 21st. It’s now six weeks later and the SEC has yet to provide any comment to issuers. Comments that involve the issuers giving them these registration documents, the SEC would normally write back to them and say, “Hey, we have ten questions for you. Can you please address this and send us a new application?’
It feels like the SEC made a conscious decision not to comment.”
Franklin Templeton and other companies had their applications to create Bitcoin (BTC) ETFs on the spot market approved by the SEC in January. Shortly afterwards, Jenny Johnson, CEO of Franklin Templeton, said that Bitcoin is just “one of many options” available in the digital asset space.
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