top of page

Following BlackRock's Application, Another Bitcoin Spot ETF Request Has Been Added To The DTCC List

bitcointimescy

Updated: Feb 29, 2024

Subsequent to BlackRock's submission, it appears that another application for a Bitcoin Spot ETF has been included in the DTCC list.

Bitcoin

In the most recent update, a new spot Bitcoin ETF application has emerged, following BlackRock's submission. This latest entry is the INVESCO & Galaxy Spot BITCOIN ETF (BTCO), and it has been included in the DTCC's list of applications.


The inclusion of BlackRock's application in this list initially led to a surge in Bitcoin's price. However, there was a temporary removal of the application from the list, but it has since been reinstated. At present, both applications, BlackRock and INVESCO & Galaxy, remain on the DTCC's list.


It has been suggested that the reason for BlackRock's temporary removal from the list was the intense scrutiny and attention it attracted, prompting a brief pause for investigation.


The Depository Trust & Clearing Corporation (DTCC) holds a crucial position within the American ETF market. When an ETF is included in the DTCC list, it signifies that an intermediary bank has formally sought a DTCC designation for that particular ETF fund.

Subsequently, the transaction involving this ETF may take place at a later, unspecified date, contingent upon receiving approval from the U.S. Securities and Exchange Commission (SEC).

This procedure is standard for initiating an ETF.


Nevertheless, it is important to note that being listed with DTCC does not serve as an indicator of success in any ongoing regulatory or approval processes.


*Note: This information is not intended as investment advice.


Photo by Kanchanara on Unsplash

  • White Facebook Icon
  • LinkedIn
  • Whatsapp

BITCOIN TIMES CY NEWSLETTER

Join over million readers and get the latest posts delivered straight to your inbox.

Thanks for submitting!

*Disclaimer: The opinion presented here should not be interpreted as investment advice; rather, it is intended solely for informational purposes. It may not necessarily align with the perspective of Bitcoin Times Cy. Given that all investments and trading carry inherent risks, it is advisable to conduct your own research before reaching decisions. We advise against investing funds that you cannot afford to lose.

You should refrain from making any decision, whether financial, investment, trading, or otherwise, solely relying on the information provided on this website. It is crucial to conduct your own thorough research and seek guidance from a qualified broker or financial advisor.

Bitcoin Times Cy cannot be held accountable for any inaccuracies, omissions, or errors on this website. Moreover, Bitcoin Times Cy cannot assume responsibility for any trading or investment losses experienced by visitors to the site, even if such losses arise due to errors.

You understand that you are using any and all Information available on or through this website at your own risk.

© Copyright 2023 All rights Reserved | Bitcoin Times Cy

bottom of page