Post By: CryptosHeadlines.com
A new development: Another proposed Spot Bitcoin ETF is now listed on the Depository Trust and Clearing Corporationโs (DTCC) website, marking the second such ETF to appear on the corporationโs site.The Invesco Galaxy Bitcoin ETF, with the ticker โBTCO,โ has been added to the DTCC website. This comes afterย BlackRockโs spot Bitcoin ETF, known as โIBTC,โ was also listed. The uncertainty surrounding the approval of these funds is causing increased attention.
DTCC Listing of Bitcoin ETFs Doesnโt Guarantee Approval by SEC
Anticipation for BlackRockโs IBTC approval had grown, but it waned after a spokesperson clarified that the listings were routine and didnโt hint atย SEC approval.
An ETF expert emphasized that the DTCCโs listing doesnโt carry significant meaning in the context ofย SEC approval for Bitcoinย ETFs. It simply indicates that asset managers are getting ready in case the SEC grants approval.
Asset managers like BlackRock and VanEck have disclosed their intentions to start seeding their funds. Although this step doesnโt ensure that the SEC willย approve these funds in the near future, it does reflect these companiesโ optimism that their Spot Bitcoin ETFs will eventually launch.
Valkyrie Joins Spot Bitcoin ETF Amendment Trend
Bloomberg analyst James Seyffart noted that Valkyrie, an asset management firm, has joined others likeย ARK Invest, BlackRock, Fidelity, and Bitwise in amending their Spot Bitcoin ETF prospectus.ย These amendments haveย sparked speculationย about the possibility of the SEC approving such a fund in the near future. ARK Invest was the first to make such amendments, leading to predictions that approval could come as early as next year.
BTC price hovering above $34,400 | Source:ย BTCUSD on Tradingview.com
Theย SEC has been quiet about Grayscaleโs application, and the Commission is scheduled to have a closed meeting on November 2, which is its first meeting since the Grayscale deadline passed. One of the agenda items for the meeting is to address litigation claims, which could potentially involve Grayscaleโs application.
Important:ย Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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