Financial services giant Franklin Templeton has listed a new spot market Ethereum (ETH) exchange-traded fund (ETF) on the Depository Trust Clearing Corporation (DTCC).
On its product offering page, DTCC lists Ethereum-based exchange-traded products (ETPs) from major financial giants, including Franklin Templeton's Ethereum TR Ethereum ETF (EZET).
Founded in 1999, DTCC is a post-trade financial services company that provides clearing and settlement services to the market. DTCC's website regularly lists tradable securities, including ETFs, which have undergone the appropriate approval processes.
However, listing on the DTCC does not guarantee that the ETF will be approved by regulatory authorities.
In the past few months, Franklin Templeton and other companies including BlackRock, HashDex, Bitwise, and ARK Invest have filed with the U.S. Securities and Exchange Commission (SEC) to create a spot-market ETH-based ETF.
In March, the regulator said it needed more time to consider the issue and postponed its decision until the end of May.
Bloomberg ETF analyst Eric Balchunas said last week that the SEC is unlikely to approve a spot-market ETH ETF.
“I believe the final deadline is May 21st. It's still six weeks away and the SEC has yet to issue any comments to the issuers. , the SEC will typically write back to the issuer and say, “We have 10 questions.” Could you please address these and send me a new application? ”
It feels like the SEC is intentionally choosing not to comment. ”
Franklin Templeton and other companies had their application to create a spot market Bitcoin (BTC) ETF approved by the SEC in January. Shortly after, Franklin Templeton CEO Jenny Johnson said that Bitcoin is just “one in a suite” of many opportunities available in the digital asset space.
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