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The listing represents a preliminary step in the trading process, yet it does not ensure that the SEC will grant approval for the fund.
Franklin Templeton’s proposed spot Ethereum ETF has appeared on the Depository Trust and Clearing Corporation’s (DTCC) new securities list with the ticker EZET. This development occurred just a day following reports of the SEC’s probable rejection of spot Ethereum ETF applications.
The DTCC listing represents a preliminary step in the trading process, yet it does not ensure that the SEC will approve the Ether Spot ETF. The SEC’s decision on the fund remains pending.
Franklin Templeton’s Ethereum spot ETF is now listed on DTCC – Source: DTCCEight asset managers, including industry giants like BlackRock, Grayscale, VanEck, and ARK Invest, are vying for the SEC’s green light to introduce a spot Ethereum ETF. Yet, the outlook for Ethereum-based funds is not as promising as it was for Bitcoin-based predecessors.
Bloomberg ETF analyst Eric Balchunas estimates there is only a 25% chance of SEC approval for a spot Ethereum ETF. He cites a noticeable absence of engagement from the SEC, contrasting with the Bitcoin ETF approval process. Balchunas interprets this silence as a deliberate ‘tactical’ decision rather than mere ‘procrastination.’
JPMorgan analysts anticipate a protracted delay in the regulatory approval of the spot Ethereum ETF, though they suggest that approval could eventually follow a legal challenge similar to Grayscale’s lawsuit, which compelled the SEC to reassess spot Ethereum ETF applications.
Meanwhile, Ethereum’s market performance has stagnated post-Bitcoin’s fourth halving, with its price staying between $3,100 and $3,200, according to CoinGecko. At press time, Ethereum is trading at around $3,100, down 1% in 24 hours.
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