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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/vaneck-lists-spot-ethereum-etf-on-dtcc/" data-wpel-link="internal">VanEck Lists Spot Ethereum ETF on DTCC</a><br></p>
<p style="text-align: justify">This week in cryptocurrencies started with a series of rapid developments. The biggest trigger was the optimistic atmosphere surrounding the spot <a href="https://en.coin-turk.com/ethereum-whales-execute-major-transfers/" data-wpel-link="internal">Ethereum</a> ETF. Following the increased chances of ETF approval, Ethereum saw a 31% rise in the last 7 days, trading above $3,700. Meanwhile, a significant development occurred with VanEck and the DTCC.</p> 
<h2 style="text-align: justify" id="dtcc-lists-vaneck-etf">DTCC Lists VanEck ETF</h2> 
<p style="text-align: justify">VanEck’s spot Ethereum ETF found a place in the Depository Trust and Clearing Corporation’s (DTCC) new securities list under the ticker $ETHV. This development emerged shortly after the submission of updated 19b-4 forms.</p> 
<p style="text-align: justify">Although being added to the DTCC list is a significant development for the ETF, it is still subject to the approval of the U.S. Securities and Exchange Commission (SEC), and this approval is not guaranteed.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-354219" src="https://coin-turk.com/wp-content/uploads/2024/05/vaneck-etf-eth-coin-turk-com.png" alt="" width="912" height="746"></p> 
<h2 style="text-align: justify" id="spot-ethereum-etf-process">Spot Ethereum ETF Process</h2> 
<p style="text-align: justify">VanEck’s spot Ethereum ETF <a href="https://newslinker.co/category/mobile/" target="_blank" rel="noopener" data-wpel-link="exclude">application</a> is likely to be the first to be decided by the SEC. The SEC needs to make a final decision on the matter. The SEC will either approve or reject it. VanEck applied for the spot Ethereum ETF in September 2023. Subsequently, <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">companies</a> like BlackRock, ARK Invest, and Fidelity followed suit.</p> 
<p style="text-align: justify">The outlook for Ethereum-focused funds was becoming increasingly pessimistic according to most analysts, mainly due to the SEC’s approach.</p> 
<p style="text-align: justify">However, on May 19, just a few days before the May 23 decision, things seemed to turn around. Bloomberg’s renowned ETF analysts Eric Balchunas and James Seyffart raised the SEC’s approval probability for a spot Ethereum ETF to 75%, creating significant excitement in the market.</p> 
<p style="text-align: justify">The world-renowned bank Standard Chartered remains optimistic about the legal approval process for the spot Ethereum ETF. The bank also indicates that Ethereum’s price could potentially reach $8,000 by the end of the year.</p> 
<p style="text-align: justify">Meanwhile, ETH was trading at $3,780 at the time of writing, following a 0.3% drop in the last 24 hours.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/vaneck-lists-spot-ethereum-etf-on-dtcc/" data-wpel-link="internal">VanEck Lists Spot Ethereum ETF on DTCC</a></h5>

VanEck Lists Spot Ethereum ETF on DTCC

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