A significant milestone has been reached for VanEck's Ethereum Exchange-Traded Fund (ETF), but it still needs the green light from the US Securities and Exchange Commission (SEC) before it can officially start operating.

Other major financial players, including BlackRock and Fidelity, are also vying for a spot to offer Ethereum ETFs.

The SEC's recent actions have raised hopes that Ethereum ETFs might finally get the approval they need.

VanEck's Ethereum ETF has been added to the list of ETFs by the Depository Trust and Clearing Corporation (DTCC), a key player in the US financial market that handles post-trade activities like clearance, settlement, and custody.

Although this listing is an important step forward, it does not mean the ETF is ready to launch. It still needs approval from the SEC, and similar filings from other big names in the industry are also pending.

Notably, under the "create/redeem" column, the VanEck Ethereum ETF is marked as "not yet active." The DTCC clarified that its list includes both active ETFs and those that are not yet operational, awaiting their launch.