Financial services titan Franklin Templeton has listed its new spot market Ethereum (ETH) exchange-traded fund (ETF) with the Depository Trust and Clearing Corporation (DTCC).
In its products offering page, the DTCC has listed Ethereum-based exchange-traded products (ETPs) from key financial giants, including Franklin Templeton’s Ethereum TR Ethereum ETF (EZET).
The DTCC, founded in 1999, is a post-trade financial services firm that provides clearing and settlement services for markets. The DTCC’s website routinely lists securities that are eligible to be traded, including ETFs that have gone through the proper approval process.
However, the listing on DTCC does not guarantee that the ETF will be approved by regulators.
During the last several months, Franklin Templeton and other firms – such as BlackRock, Hashdex, Bitwise and ARK Invest – applied with the U.S. Securities and Exchange Commission (SEC) to create spot market ETH-based ETFs.
In March, the regulatory body said that it needed more time to consider the matter and delayed making its decision until the end of May.
Last week, Bloomberg ETF analyst Eric Balchunas said that the chances of the SEC approving a spot market ETH ETF are low.
“The final due date is May 21st, I believe. We are now six weeks away, the SEC hasn’t given any comments yet to the issuers. Comments meaning the issuers give them these regulatory filings, the SEC normally would write back to them and say, ‘Hey, we have 10 questions for you. Can you please address these and send us a new filing.’
It feels like the SEC has deliberately and has chosen not to comment.”
Franklin Templeton and other firms had their applications to create spot market Bitcoin (BTC) ETFs approved in January by the SEC. Shortly after, Franklin Templeton CEO Jenny Johnson said that Bitcoin is only “one of a suite” of many opportunities available in the digital assets space.
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