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Spot Ethereum ETFs are becoming more and more recognized, this time from DTCC. Depository Trust & Clearing Corporation (DTCC) has listed Franklin Templeton's Spot Ethereum ETF with a “Yes” in exchange for creation, joining the leading platforms that recognize ETFs.
In recent times, we have witnessed many giants in the financial sector, including Grayscale, BlackRock, VanEck, and even Catherine Wood's ARK Invest. On February 12th, Franklin Templeton joined the list, becoming the latest asset management firm to file a Spot Ethereum ETF with the SEC.
Newcomer Franklin Templeton currently uses the ticker EZET for the Spot Ethereum ETF on the DTCC website. However, the SEC continues to delay a decision on this proposed spot ETF. Last week, the Securities and Exchange Commission moved the decision date to June 11, leaving an air of uncertainty around the proposal.
The recognition of spot ETFs through DTCC listing is a major step for ETFs in their efforts to establish a foothold in the world of cryptocurrency trading. However, analysts point out that even a listing on the DTCC does not guarantee approval from the SEC.
As of this writing, a final decision by the SEC has not yet been made, and the entire crypto market awaits its decision on June 11th.
The SEC's silence on the matter hasn't stopped analysts from offering their own opinions. Bloomberg ETF analyst Eric Balchunas seemed to take a negative view, commenting that there was only a 25% chance the SEC would approve the proposal. He also commented that the SEC's silence may have been intentional, calling it a “tactical decision” to avoid being misconstrued as procrastination.
Meanwhile, crypto journalist Colin Wu predicted that DTCC’s recent listing of Franklin Templeton’s Spot Ethereum ETF means a positive outcome is imminent.
Interest in Spot Ethereum ETFs has been increasing recently, and this DTCC listing only confirms this.
As spot Ethereum ETFs start to heat up, crypto investors are looking for waves to leverage them for profit, and that's where ETFSwap (ETFS) comes in. ETFSwap is the leading platform when it comes to trading ETFs on the blockchain.
The platform allows crypto investors to directly invest in ETFs on the blockchain through tokenization. This means users can trade ETFs without worrying about intermediaries and keep 100% of their profits.
ETFSwap also allows perpetual trading. This means that traders can trade with no expiry date while allowing up to 10x leverage for all traders. The platform is integrated with transparent and secure blockchain technology and does not require KYC information for traders who wish to use the platform.
But perhaps one of the best features of ETFSwap is that it allows users to trade different types of ETFs in different sectors, allowing investors to diversify their portfolios like never before. Investors can access ETFs in sectors such as cryptocurrencies, technology, healthcare, energy, and commodities, potentially diversifying risk and boosting returns.
ETFS token pre-sale begins
ETFSwap’s native token is ETFS, which is the key to users unlocking the entire ecosystem. The company's tokenomics strategy prioritizes fairness and inclusivity, creating many incentives for investors. Additionally, ETFS tokens are built to be deflationary, a feature that is known to make the token more competitive in the market and stabilize the price by reducing the total supply over time. .
In addition to retaining governance rights, investors in ETFS tokens can earn passive income from their coin holdings by earning up to 87% annual percentage rate (APR) yield through staking.
ETFSwap has allocated 40% of its total ETFS supply to a public pre-sale for investors, which is currently underway. The current selling price for ETFS Stage 1 Presale is as low as $0.00854, and the Stage 2 Presale price is expected to be sold at $0.01831 per token.
For more information on the ETFS presale, please see below.
Access ETFSwap Presale
Join the ETFSwap community
