Global investment manager VanEck's spot Ether exchange-traded fund (ETF) has been listed by the Depository Trust and Clearing Corporation (DTCC) under the ticker symbol "ETHV" as of May 23. This listing is a significant step towards receiving final approval from the U.S. Securities and Exchange Commission (SEC).

Listing on DTCC and Regulatory Approval

The DTCC, an American financial market infrastructure provider, offers essential clearing, settlement, and transaction reporting services to financial market participants. VanEck's ETF is currently marked as inactive on the DTCC website, meaning it cannot be processed until it secures the necessary regulatory approvals. Franklin Templeton's spot ETH ETF was listed on the platform a month earlier, making VanEck not the first to list an Ether ETF with the DTCC.

SEC's Stance and Political Influence

There are reports that SEC officials have contacted Nasdaq, the Chicago Board Options Exchange, and the New York Stock Exchange to update and revise existing spot Ether ETF applications. This apparent shift in the SEC's stance over the past week is believed to be influenced by the White House. Crypto lawyer Jake Chervinsky observed on X that policy is influenced by politics, noting that "For months, crypto has been winning the political battle." He speculated that former President Donald Trump's endorsement of cryptocurrency might have prompted the Biden administration to adjust its policy.

Deadline and Likelihood of Approval

The SEC faces a crucial deadline on May 23 for its decision on VanEck's spot Ether ETF application. After months of speculation about a likely denial of spot ETH ETFs, the SEC recently took significant action by requesting financial managers to amend and resubmit their 19b-4 filings for proposed spot Ether ETFs. Some analysts interpret this move as a positive sign, increasing the likelihood of approval from 25% to 75%.

As the crypto community eagerly awaits the SEC's decision on VanEck's spot Ether ETF, the listing on DTCC and the apparent shift in the SEC's stance, influenced by political factors, have added to the anticipation surrounding this significant development in the U.S. crypto landscape.