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