Spot Ethereum ETFs are starting to get more and more recognition and this time, it is from the DTCC. The Depository Trust & Clearing Corporation (DTCC) has joined the major platforms recognizing ETFs as it has now listed Franklin Templeton’s Spot Ethereum ETF with a “yes” for create and redeem.
Spot Ethereum ETFs Debut On DTCC Website
In recent times, we have witnessed many giants in the finance sector, including Grayscale, BlackRock, VanEck, and even Catherine Wood’s ARK Invest. On February 12, Franklin Templeton joined the list, becoming the newest asset management firm to file a Spot Ethereum ETF application with the SEC.
The newcomer, Franklin Templeton is currently using the ticker EZET for its Spot Ethereum ETF on the DTCC website. However, the SEC has continued to delay its decision concerning this proposed spot ETF. Last week, the Securities and Exchange Commission shifted its decision date to June 11, leaving an air of uncertainty around the proposal.
The recognition of the spot ETFs by the DTCC listing is a big step for ETFs in their efforts to break ground in the crypto trading world. However, analysts have noted that even with the DTCC listing, an approval from the SEC is not guaranteed.
As of the time of this writing, there have not been any final decisions made by the SEC and the entire crypto market is waiting for the decision on the June 11 date.
The SEC’s silence on the matter has not stopped analysts from making their own observations. Eric Balchnas, Bloomberg ETF analyst, seems to be on the negative side, commenting that only a 25% chance exists that the SEC approves the proposal. He further commented that the SEC’s silence might be deliberate, calling it a “tactical decision” not to be mistaken for procrastination.
Crypto journalist, Colin Wu, on the other hand, has predicted that the DTCC’s recent listing of Franklin Templeton’s Spot Ethereum ETF means that a positive outcome is imminent.
Interest has grown for Spot Ethereum ETFs lately, and this DTCC listing only confirms this.
ETFSwap (ETFS) Might Be The Next BTC
As Spot Ethereum ETFs begin to heat up, crypto investors are looking for waves to leverage them for profit and that is where ETFSwap (ETFS) comes in. When it comes to trading ETFs on the blockchain, ETFSwap is the leading platform.
The platform allows crypto investors to invest in ETFs right on the blockchain through tokenization. This means that users are able to trade ETFs without worrying about intermediaries and being able to keep 100% of their profits.
ETFSwap also allows for perpetual trading, which means traders can trade without expiration dates while allowing up to 10x leverages for all traders. The platform is integrated with transparent and secure blockchain technology, and it does not require KYC information for traders who want to use the platform
But perhaps one of the biggest features of ETFSwap is that it allows its users to trade different kinds of ETFs from many different sectors, allowing investors to diversify their portfolios like never before. Investors can access ETFs from sectors like crypto, technology, healthcare, energy, or commodities, spreading risk and potentially enhancing returns.
ETFS Token Presale Takes Off
ETFSwap’s native token is ETFS and it is the key that unlocks the entire ecosystem for users. Its tokenomics strategy prioritizes fairness, inclusivity, and carries a lot of incentives for its investors. Additionally, the ETFS token is built to be deflationary, a feature known to increase a token’s ability to compete in the market and stabilize its price by reducing the total supply over time.
Investors in the ETFS token, apart from holding governance rights, can also earn passive income from holding the coin by earning up to 87% Annual Percentage Rate (APR) yield through staking.
ETFSwap has earmarked 40% of the total ETFS supply for investors in the public presale, which is currently ongoing. The current sale price for the ETFS Stage 1 presale is as low as $0.00854, with the Stage 2 presale price slated to be sold for $0.01831 per token.
For more information about the ETFS Presale:
