In a recent development, another Spot bitcoin ETF was proposed has been listed on the Depository Trust and Clearing Corporation (DTCC) website, becoming the second proposal bitcoin Spot ETF appear on the corporation’s website.
BTCO joins IBTC on DTCC website
The Invesco bitcoin-spot-etf-three-years/#:~:text=The%20firm’s%20estimates%20of%20inflows,the%20third%20year%20after%20launch.” rel=”nofollow”>Galaxy The bitcoin ETF with the symbol ‘BTCO’ recently appeared on the DTCC websitejoining bitcoin-etf/#:~:text=As%20to%20what%20seeding%20means,open%20market%20on%20Day%20One.%E2%80%9D” rel=”nofollow”>BlackRock bitcoin Spot ETFbearing the symbol ‘IBTC’ as uncertainty continues to rise around a possible approval of these funds.
<img decoding="async" class="alignnone size-medium wp-image-558570 aligncenter" src="https://www.newsbtc.com/wp-content/uploads/2023/11/Galaxy-Digital-Invesco-Spot-bitcoin-ETF-DTCC.png?w=460&resize=460%2C241″ alt=”Galaxy Digital Invesco Spot bitcoin ETF DTCC” width=”460″ height=”241″ srcset=”https://www.newsbtc.com/wp-content/uploads/2023/11/Galaxy-Digital-Invesco-Spot-bitcoin-ETF-DTCC.png?w=512 512w, https://www.newsbtc.com/wp-content/uploads/2023/11/Galaxy-Digital-Invesco-Spot-bitcoin-ETF-DTCC.png?w=460&resize=460%2C241 460w” sizes=”(max-width: 460px) 100vw, 460px” loading=”lazy” data-recalc-dims=”1″/>
Source: DTCC website
Many had speculated that an approval was imminent when BlackRock IBTC was listed above. However, optimism has cooled after bitcoin-etf” rel=”nofollow”>a recent revelation by a spokesperson for the financial services company. The representative clarified that the inclusion of these ETFs was simply “standard practice” and does not indicate any possible approval by the SEC.
An ETF expert had also bitcoin-spot-etf-blackrock-dtcc/” rel=”nofollow”>heavy and declared that the DTCC listing meant nothing in the grand scheme of things regarding a possible approval of bitcoin ETFs by the United States. National stock market Commission (SECOND). Given this, the DTCC listing only suggests that these asset managers are preparing in case SEC approved.
These preparations also include asset managers. bitcoin-etf/#:~:text=As%20to%20what%20seeding%20means,open%20market%20on%20Day%20One.%E2%80%9D” rel=”nofollow”>Black Rock and bitcoin-etf/#:~:text=Asset%20Distribution%20Process-,VanEck%20Goes%20Back%20To%20The%20Drawing%20Board,Revised%20Spot%20Bitcoin%20ETF%20Filing&text=In%20a%20recent%20development%2C%20asset,their%20Spot%20Bitcoin%20ETF%20prospectus.” rel=”nofollow”>VanEck Recently revealing their plans to begin seeding their respective funds. While such a move does not guarantee that the SEC will likely approve these funds any time soon, it shows the optimism of these companies that their Spot bitcoin ETF will launch sooner or later.
Valkyrie Joins the Spot bitcoin ETF Amendment Bandwagon
in a mail shared on its X platform (formerly Twitter), bitcoin-etf/#:~:text=Odds%20For%20ETF%20Approval%20%E2%80%9C75,weren’t%20approved%20by%20then.” rel=”nofollow”>James Seyffart, Bloomberg analyst pointed out that the bitcoin-and-ether-etf/” rel=”nofollow”>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 ARCA invest, bitcoin-etf/#:~:text=As%20to%20what%20seeding%20means,open%20market%20on%20Day%20One.%E2%80%9D” rel=”nofollow”>Black Rock, bitcoin-etf-filing/” rel=”nofollow”>Fidelityand Bitwise, which have also submitted amendments to their prospectus.
Seyffart is one of those who believes these amendments could mean something. ARK Invest was the first asset manager to amend its prospectus, prompting Seyffart and fellow Bloomberg analyst Eric Balchunas predict that the United States 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 not said anything about Grayscale’s application despite the fact that the Commission bitcoin-etf/” rel=”nofollow”>choose not to file an appeal. But that could soon change, as prominent financial lawyer and ETF enthusiast Scott Johnsson saying that the Commission will have a closed-door meeting on November 2; It is the first since the Grayscale deadline expired, and one of the meeting’s agendas includes resolving litigation claims.
<img decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/6rFwiogc/" alt="Tradingview.com bitcoin Price Chart (bitcoin Spot ETF)” width=”2650″ height=”1758″ loading=”lazy”/>
btc price hovering above $34,400 | Source: BTCUSD on Tradingview.com
Featured image from iStock, chart from Tradingview.com
