Two new crypto exchange-traded funds (ETFs) from 21Shares, SUI ETF (TSUI) and Polkadot ETF (TDOT), have been listed on the Depository Trust & Clearing Corporation (DTCC) website.
The crypto community has taken notice of the listings, which could be an indication of a positive move towards a U.S. Securities and Exchange Commission (SEC) approval.
What the DTCC listing means
While appearing on the DTCC’s website is a step forward, it does not mean the ETFs have received regulatory approval. The DTCC adds securities to the National Securities Clearing Corporation (NSCC) eligibility list in preparation for a potential ETF launch, but trading cannot begin without SEC clearance.
Other crypto ETFs, such as Fidelity Solana ETF (FSOL), Canary XRP ETF (XRPC), and Canary Hedera ETF (HBR) have also been listed on the DTCC site, signifying a busy timeframe of potential crypto ETF approvals.
Market reaction and price action
Following the DTCC listings, SUI and Polkadot prices rebounded slightly. SUI rose 3% from its 24-hour low of $3.23 to an intraday high of $3.31, trading around $3.28. Polkadot climbed 2%, trading at $3.97, with a 25% decline in trading activity, according to CoinMarketCap.Â
Investors should remember that the trading of these ETFs is subject to the final decision of the regulator, and the crypto markets are extremely volatile. While the listings generate optimism, potential investors should carefully consider risks before making decisions.
The introduction of SUI and Polkadot ETFs to the DTCC site is a potential turning point of U.S. crypto ETFs, but the ultimate SEC approval will decide whether these funds can actually reach the market.
Also Read: 21Shares Updates Solana ETF Filing Ahead of SEC October Decisions
