The recent milestone in the cryptocurrency market was reached with the listing of BlackRock’s spot Ethereum ETF on the Depository Trust and Clearing Corporation (DTCC), identified by the symbol $ETHA. This development follows the wave of approvals by the US Securities and Exchange Commission (SEC), which included eight new Ethereum-focused exchange-traded funds (ETFs).

The SEC detailed the listing of several Ethereum ETFs from prominent asset managers such as VanEck, Fidelity, Franklin, Grayscale, Bitwise, ARK Invest & 21Shares, Invesco & Galaxy, and BlackRock’s iShares Ethereum Trust. These funds are scheduled to be listed on major exchanges such as Nasdaq, NYSE Arca and Cboe BZX Exchange.

Although the SEC has approved Forms 19b-4 for these ETFs, the actual start of trading will await final approval of each fund’s S-1 filings, a process that can range from a few weeks to several months. “It doesn’t mean they will start trading tomorrow. This is just the 19b-4 approval. Approval of S-1 documents is also required, which will take time. We expect it to take a few weeks, but it could take longer,” explained James Seyffart, ETF analyst at Bloomberg.

Discussions between the SEC and ETF issuers are focused on S-1 forms, with Seyffart indicating that final approval could take up to five months. However, there are expectations that the process will be accelerated somewhat due to the relevance of the launch. “Normally this process takes months. Up to 5 months in some examples, but [Eric Balchunas] and I think this will be at least somewhat accelerated,” Seyffart added.

After receiving the green light from the SEC, asset manager VanEck wasted no time and quickly filed an amended Form S-1. The company also celebrated the approval with a 37-second promotional ad inviting investors to “Enter the Ether.”


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.


Leave a Reply