Galaxy Digital and Invesco Bitcoin Spot ETF Join BlackRock On The DTCC
In a recent development, another proposed Spot Bitcoin ETF was listed on the Depository Trust and Clearing Corporation (DTCC) website, becoming the second proposed project Spot Bitcoin ETF to appear on the company’s website.
BTCO Joins IBTC on DTCC Website
Invesco Galaxy The Bitcoin ETF under the symbol “BTCO” recently appeared on the DTCC websitejoin BlackRock Spot Bitcoin ETFwhich bears the symbol “IBTC”, as uncertainty around the possible approval of these funds continues to increase.
Source: DTCC website
Many had speculated that approval was imminent when BlackRock IBTC was previously listed. However, the optimism somewhat cooled after a recent revelation by a spokesperson for the financial services company. The representative clarified that the listing of these ETFs is simply “standard practice” and does not indicate any potential approval from the SEC.
An ETF expert also had weighed and declared that the DTCC listing meant nothing in the grand scheme of things regarding possible approval of Bitcoin ETFs by the United States Security and Exchange Commission (SECOND). Building on this, the DTCC list only suggests that these asset managers are preparing just in case they find themselves approved by the SEC.
These preparations also include asset managers black rock And VanEck recently revealing their intention to begin funding their respective funds. Although such a move does not guarantee that the SEC is likely to approve these funds in the near future, it does show the optimism of these companies about launching their Spot Bitcoin ETF sooner or later.
Valkyrie Joins Spot Bitcoin ETF Amendment Train
In a job shared on its X platform (formerly Twitter), James Seyffart, analyst at Bloomberg noted that the Valkyrie asset management company had joined the “prospectus amendment train” with the latest filing of its revised Spot Bitcoin ETF prospectus. Valkyrie joins the likes of ARK Invest, black rock, loyaltyand Bitwise, which also filed amendments to their prospectus.
Seyffart is among those who think these amendments could mean something. ARK Invest was the first asset manager to change its prospectus, leading Seyffart and Bloomberg analyst Eric Balchunas. predict that the U.S. Securities and Exchange Commission (SEC) could approve a fund as early as next year.
Meanwhile, it is worth mentioning that the SEC has so far said nothing regarding Grayscale’s application despite the Commission. choose not to appeal. But that could change soon as ETF enthusiast and prominent financial lawyer Scott Johnsson said that the Commission should hold a closed meeting on November 2; It’s the first since the Grayscale deadline expired, and one of the meeting’s agenda items includes dispute resolution.
BTC price hovering above $34,400 | Source: BTCUSD on Tradingview.com
Featured image from iStock, chart from Tradingview.com
