In a recent development, another Spot Bitcoin ETF was proposed is mentioned on the website of the Depository Trust and Clearing Corporation (DTCC), becoming the second proposal Discover Bitcoin ETF appear on the company’s website.
BTCO joins IBTC on the DTCC website
The Invesco universe Bitcoin ETF under the ticker ‘BTCO’ recently appeared on the DTCC websiteparticipate BlackRock’s spot Bitcoin ETFwhich falls under the ticker ‘IBTC’, as uncertainty surrounding a possible approval of these funds continues to increase.
Source: DTCC website
Many had speculated that an approval was imminent at the time BlackRock’s IBTC was mentioned earlier. However, optimism has cooled somewhat a recent revelation by a spokesperson for the financial services provider. The representative clarified that the listing of these ETFs was simply a “standard practice” and does not indicate any potential SEC approval.
An ETF expert had done that too weighed and declared that DTCC’s listing meant nothing in the grand scheme of things regarding a possible approval of Bitcoin ETFs by the United States Securities and Exchange Commission (SEC). Based on this, the DTCC list only suggests that these asset managers are preparing in case they get that approved by the SEC.
These preparations also include asset managers Black rock And VanEck recently revealed their plans to start seeding their respective funds. While such a move doesn’t guarantee that the SEC is likely to approve these funds anytime soon, it does demonstrate the optimism of these companies that their Spot Bitcoin ETF will be launched sooner or later.
Valkyrie Joins the Spot Bitcoin ETF Change Train
In a after shared on his X (formerly Twitter) platform, Bloomberg analyst James Seyffart noted that the asset manager Valkyrie had joined the “prospectus change train” with the latest filing of their revised Spot Bitcoin ETF prospectus. Valkyrie joins, among others ARK Invest, Black rock, Fidelityand Bitwise, which also filed amendments to their prospectus.
Seyffart happens to be among those who believe these amendments can make a difference. ARK Invest was the first asset manager to update its prospectus, prompting Seyffart and fellow Bloomberg analyst Eric Balchunas to predict that the US Securities and Exchange Commission (SEC) could approve a fund as early as next year.
Meanwhile, it is worth noting that the SEC has not said anything about Grayscale’s filing so far despite the Commission choose not to appeal. But that could soon change, says ETF enthusiast and prominent financial lawyer Scott Johnsson said that the Commission will hold a closed meeting on 2 November; it’s the first since the Grayscale deadline passed, and one of the agenda items for the meeting includes resolving lawsuits.
BTC price hovering above $34,400 | Source: BTCUSD on Tradingview.com
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