๐ฅ ETH price prediction as DTCC lists finance giant's Ethereum spot ETF
The Depository Trust & Clearing Corporation (DTCC) listed Franklin Templetonโs Ethereum (ETH) spot ETF with a โyesโ for create and redeem. Franklin Templeton is a traditional finance giant with $1 trillion in assets under management and a growing interest in cryptocurrencies.
As of this writing, the cryptocurrency market still awaits the Securities and Exchange Commissionโs (SEC) approval of Ethereum spot ETFs. This is a similar expectation previously seen within the Bitcoin spot ETFs, feeding a bullish sentiment for the cryptocurrency.
In a hint of what is potentially to come, the renowned crypto journalist Colin Wu reported DTCCโs recent listing. Notably, the โFRANKLIN ETHEREUM TR ETHEREUM ETFโ appeared with a โYโ for โCreation/Redeem,โ signaling a positive outcome is imminent.
According to Wu, this is โa standard practice to prepare for the launch of new ETFs to the market and does not represent the result of the approval process.โ
On the other hand, the same entity released an โimportant noticeโ to the finance market on April 26. As reported by Finbold, its subsidiary, Depository Trust Company (DTC), will no longer recognize collateral value from cryptocurrency-based ETFs and other investment vehicles.
This decision could drive institutional investors away despite Franklin Templetonโs and BlackRockโs growing interest in the tokenization of real-world assets (RWA), which theoretically benefits Ethereum and the demand for its native token, ETH.
Year-to-date, Ethereum has traded as low as $2,140 and as high as $4,091, being both considerable levels to watch for as things develop.