- SUI and DOT ETFs are listed on DTCC as they wait for approval from the SEC.
- Listing on DTCC does not mean SEC approval, but it shows ETFs are being prepared for possible launch.
- Market reaction to the listings was weak as traders remained cautious during the US government shutdown.
Two new crypto-based exchange-traded funds (ETFs) from 21Shares have been added to the DTCC’s National Securities Clearing Corporation (NSCC) list. The ETFs are tied to Sui and Polkadot tokens. Listed under the tickers TSUI and TDOT, both await regulatory clearance.
The Depository Trust & Clearing Corporation (DTCC) listing is a technical step toward market readiness. It allows for listing and settlement preparations. The move, however, does not imply the approval of the U.S. Securities and Exchange Commission (SEC).
The appearance of these ETFs on the DTCC list signals that issuers expect a decision soon. Other crypto ETFs have also recently appeared on the DTCC list. These include funds linked to Solana, XRP, Hedera, and Dogecoin. This pattern shows growing industry expectations for SEC action.
Approval Odds Increase After Recent Regulatory Shifts
According to Bloomberg ETF analysts, approval odds are high. The Polkadot ETF has a 90% chance, while SUI’s stands at 60%. Recent developments may improve these chances. The SEC recently adopted new generic listing standards for crypto ETFs. As a result, ETF applications now follow a faster path. Issuers must now gain S-1 statement approval instead of going through the longer 19b-4 process.
On September 29, the SEC withdrew delay notices for at least 16 pending ETF applications. These included filings tied to Solana, XRP, and other tokens. The agency’s revised process removes past bottlenecks. It now allows for quicker reviews and possible approvals.
Market Response to Listing Remains Muted
The listing sparked short-lived price increases for SUI and DOT. SUI rose by over 3%, while DOT gained nearly 2% after the announcement. However, both tokens later declined. The current prices depict poor sentiment in the market in general. Continued speculation associated with the U.S. government shutdown has lowered risk appetite. Investors remain cautious.
As of press time, SUI trades at $3.23, with trading volume down 12% over 24 hours. DOT stands at $3.90, down from an intraday high of $3.94. Its trading volume has dropped by 24%, suggesting reduced trader interest.
ETF Launch Timeline Now Depends on SEC
Although listed by the DTCC, both ETFs require SEC approval before trading begins. The Polkadot ETF faces a decision deadline in November. In March, Nasdaq filed for a Polkadot ETF with the SEC. The SUI ETF follows in December.
Until then, they remain in a pre-launch state. The DTCC listings only show that issuers have completed operational steps. The SEC holds the final say on when, or if, these funds can begin trading.
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