The Depository Trust and Clearing Corporation (DTCC), a Securities and Exchange Commission-registered financial securities clearing company, has recently added Fidelity Investments' US spot Ethereum exchange-traded fund (ETF) to its list of ETFs. This development marks a significant milestone in the Ethereum ETF landscape, as Fidelity's entry joins other proposed spot Ether ETFs from major financial players like VanEck, Franklin Templeton, and BlackRock.

While DTCC's inclusion of Fidelity's ETF on its list may seem like a promising sign, it's essential to note that this addition is standard practice and does not necessarily indicate impending regulatory approval. The ETF, named Fidelity Ethereum FD Beneficial INT and tickered FETH, is currently marked as "N" in the create/redeem column, indicating it is not yet active.

Last week, the SEC gave preliminary approval to eight spot Ether ETFs from major financial players, including BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark Invest, Invesco Galaxy, and Franklin Templeton. However, these firms still require approval for their S-1 registration statements from the agency before their funds can start trading. Fidelity filed its updated S-1 form last week, signaling its readiness to move forward pending final regulatory clearance, while BlackRock submitted its amended registration statement on Wednesday.

In a surprising turn of events, investment manager Hashdex has opted to withdraw its application for a spot Ether ETF, citing that it "no longer intends to move forward with a single asset Ether ETF". The reasons behind Hashdex's withdrawal remain unclear, leaving market participants wondering if the firm plans to resubmit its proposal in the future.

As the regulatory process continues, market participants eagerly await the potential launch of Ethereum-linked financial products. These spot Ether ETFs could potentially launch as early as mid-June, provided the SEC follows a similar timeline to its spot Bitcoin ETF process. Bloomberg ETF analyst Eric Balchunas recently commented on the S-1 registrations, expecting additional filings to follow soon. He noted that there will likely be another round of detailed comments from the regulatory agency, with a launch by the end of June being a realistic possibility, although his estimated launch date remains around July 4.

Meanwhile, Ether is trading at around $3,750, reflecting a 3% decline from the previous day, with a trading volume of $16.8 billion, marking a 10% decrease in the last 24 hours. As the Ethereum ETF landscape continues to evolve, market participants remain optimistic about the potential launch of these financial products, which could potentially bring new investment opportunities and growth to the cryptocurrency market.