Despite the approval uncertainty around Ethereum spot ETF approval possibilities, an ETH spot ETF appeared on the DTCC website.
At present, a total of nine Ethereum spot ETF products are waiting for approval from the United States Securities and Exchange Commission (SEC). Notably top fund manager BlackRock also is on this list to get approval for its ETH ETF.
On 27 April 2024, Franklin Templeton’s proposed spot Ethereum ETF appeared on the Depository Trust and Clearing Corporation’s (DTCC) new securities list with the ticker EZET.
JUST IN: FRANKLIN TEMPLETON $ETH ETF ADDED TO DTCC ETF LIST. pic.twitter.com/ctJzuXczE0
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This is very big news because people consider it a type of hint that Franklin is ready to jump into the ETH spot ETF market.
However, experts said that the appearance of any pending ETF product on the DTCC website doesn’t mean that the SEC body is ready to approve ETH spot ETF applications.
Franklin Templeton has tokenized a $380 million treasuries fund using the Polygon and Stellar blockchains, creating BENJI tokens. Each BENJI token corresponds to a share of the FOBXX fund and can be traded on both the Polygon and Stellar blockchains.
SEC vs ETH
It is worth knowing that conflict between the SEC body & Ethereum is currently at an intense level, as the SEC body investigated the non-profit ETH foundation to find evidence against Ethereum.
Just a day ago, popular blockchain firm ConsenSys also filed a suit against the SEC body, to defend Ethereum against SEC’s claims.
According to ETF experts, there is only a 20% chance that the SEC body will approve ETH spot ETF applications and the main reason behind this low win odds is the legal nature of ETH coin under the purview of the SEC body.
Read also: Analyst says “Bitcoin might be on the verge of outperforming against StockMarket”
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