Bitcoin ETF

Galaxy

Bitcoin

James

Invesco and Galaxy’s spot Bitcoin (<a href="https://cryptoslate.com/coins/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) exchange-traded fund (ETF) ticker BTCO has <a href="https://www.dtcc.com/charts/exchange-traded-funds" rel="noopener noreferrer nofollow">appeared</a> on the website of the U.S. Depository Trust and Clearing Corporation (DTCC).
While it was unclear when the listing occurred,&nbsp;Web archive <a href="https://web.archive.org/web/20231025072847/https://www.dtcc.com/charts/exchange-traded-funds" rel="noopener noreferrer nofollow">records</a> suggest it happened after Oct. 25. This means Invesco Galaxy’s BTCO joins BlackRock’s IBTC, which also recently <a href="https://cryptoslate.com/bitcoin-retracts-and-rebounds-after-blackrocks-new-etf-ticker-removed-from-dtcc-website/" rel="noopener noreferrer nofollow">appeared</a> on the site, sparking speculations within the community.
The DTCC is a prominent post-trade settlement house, managing trillions of dollars in daily securities transactions worldwide. In 2022, the company handled an impressive $2.50 quadrillion in securities assets, according to Reuters.
<h2 class="s3" id="span-class-s2-dtcc-listing-does-not-equal-approval-span">DTCC listing does not equal approval</h2>
Amid <a href="https://cryptoslate.com/blackrock-could-seed-spot-bitcoin-etf-by-end-of-october-filing-suggests/" rel="noopener noreferrer nofollow">ongoing anticipation</a> within the crypto community regarding the numerous ETF applications, it’s important to note that a presence on the DTCC website doesn’t signify approval from the U.S. Securities and Exchange Commission (SEC), according to a DTCC spokesperson.
According to the company, the recent ticker listing of the spot BTC ETF applications is “standard practice in preparation for an ETF’s launch.”
Meanwhile, both ETF products are marked with an “N” designation in their “Create/Redeem” status.
James Seyffart, an ETF analyst at Bloomberg, explained that this tag signifies whether the products are currently open for creation and redemptions. Additionally, he <a href="https://x.com/JSeyff/status/1716942517521047803?s=20" rel="noopener noreferrer nofollow">noted</a> that it suggests the applicants’ preparedness to launch immediately upon approval.
However, Eric Balchunas, a Senior ETF analyst at Bloomberg, raised <a href="https://x.com/EricBalchunas/status/1716943908813549834?s=20" rel="noopener noreferrer nofollow">concerns</a> regarding this tag. He pointed out that some active ETFs on the list also bear the “N” designation.
The post <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com/invesco-and-galaxy-spot-bitcoin-etf-ticker-seen-on-dtcc-list/">Invesco and Galaxy spot Bitcoin ETF ticker seen on DTCC list</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com">CryptoSlate</a>.

Invesco and Galaxy spot Bitcoin ETF ticker seen on DTCC list

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