BlackRock’s spot Ethereum ETF has been listed on the Depository Trust and Clearing Corporation (DTCC) with the ticker symbol $ETHA. The listing follows the US Securities and Exchange Commission’s (SEC) approval of eight spot Ethereum exchange-traded funds (ETFs).
“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,” Bloomberg ETF analyst James Seyffart shared.
The SEC has reportedly begun discussions with ETF issuers regarding S-1 forms. Seyffart suggests that the SEC’s approval of the S-1 filings could take up to five months, after which trading of the spot Ethereum ETFs can commence.
“Typically this process takes months. Like up to 5 months in some examples but [Eric Balchunas] and I think this will be at least somewhat accelerated,” he added.
An SEC spokesperson declined to comment on the recent approval.Briefly after the approval, asset manager VanEck submitted the amended S-1 form to the SEC. The firm also released a 37-second advertisement to celebrate the landmark approval, inviting viewers to “Enter the ether.”
