As the US SEC prepares to make its final decision on the approval of Spot Bitcoin ETFs, the Depository Trust and Clearing Corporation (DTCC) has officially listed investment management firm VanEck’s Spot ETFs tickers.
VanEck’s Spot ETF ticker listed on DTCC
American investment management company VanEck’s Spot Bitcoin ETF recently appeared on the DTCC’s active and pre-launch list. VanEck’s ETF can be identified by the ticker ‘HODL’ on the The official platform of DTCC.
This move positions VanEck as a key player in the changing landscape of Spot ETF investments. Furthermore, the listing is seen as a crucial step towards the integration of Spot Bitcoin ETFs into the mainstream financial sector if the US Securities and Exchange Commission (SEC) decides to Spot Bitcoin ETFs Approval.
In addition to VanEck, WisdomTree’s Spot Bitcoin ETF ticker, ‘BTCW’ is also officially listed on the DTCC website. The investment manager previously filed its Spot BTC ETF application with the US SEC in June 2023. However, the regulator has consistently delayed the approval of the ETF. WisdomTree’s Spot Bitcoin ETF application.
The American SEC has also done that delayed 13 Discover Bitcoin ETF applications from leading companies such as Black rockARK Invest, Grayscale, and others. The regulator is facing a deadline of January 10to accept or reject these Spot Bitcoin ETF applications.
While there is a possibility for the SEC to deny Spot BTC ETFs, several experts, including Bloomberg analysts, James Seyffart and Eric Balchunas, have 90% chance from the regulator that approved Spot BTC ETFs in January.
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VanEck Unveils $72 Million Bitcoin ETF Seed Fund
On Monday, January 8, VanEck filed an amended Spot Bitcoin ETF S-1 filing to the SEC. In its filing, VanEck disclosed that the financial firm had purchased 1,640.92489329 BTC worth $72.5 million on January 5 to back its Spot ETF.
The substantial sowing will form a solid foundation VanEck’s Spot Bitcoin ETFpotentially paving the way for greater participation from institutional investors.
In addition to VanEck’s Seed Creation Baskets, there are also major asset managers in the Spot Bitcoin ETF race such as BlackRock, Bitwise and Fidelity have announced their various seed funds.
Bitwise revealed one $200 million seed fund created by Pantera Capital to support its Spot BTC ETF. The asset management firm has also provided $500,000 to fund its proposed Spot BTC ETF.
Meanwhile, BlackRock and Fidelity have announced plans to seed their Spot Bitcoin ETFs $10 million and $20 million respectively. BlackRock previously filed an amended S-1 filing with the SEC in December, revealing a purchase of 227.9 BTC to seed its Spot ETF by January 3.
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