Bitcoin (BTC) Price Analysis: BTC Unmoved As Invesco Galaxy Spot Bitcoin ETF Appears On DTCC Website
The post Bitcoin (BTC) Price Analysis: BTC Unmoved As Invesco Galaxy Spot Bitcoin ETF Appears On DTCC Website appeared on BitcoinEthereumNews.com.
Table of Contents In a significant development, the ticker for Invesco and Galaxy’s spot Bitcoin exchange-traded fund (ETF) has appeared on the Depository Trust and Clearing Corporation’s (DTCC) website. The Invesco and Galaxy spot Bitcoin ETF’s addition to the DTCC website comes after BlackRock’s application was recently added to the DTCC list. Invesco Galaxy Spot Bitcoin ETF Added To DTCC List The recent addition of BlackRock’s application to the website list resulted in a considerable rally in the Bitcoin (BTC) price. However, the BlackRock application was later removed from the list and did not appear for some time. Currently, both the BlackRock and Invesco and Galaxy spot Bitcoin ETF applications are on the DTCC list. According to reports, the BlackRock application was removed because it was attracting too much attention, which required it to be investigated. The Invesco and Galaxy spot Bitcoin ETF was added to the list sometime in the last six days. The web archiver WayBack Machine shows no record or listing under the ticker BTCO was present on the 25th of October. No Guarantee Of Approval Adding a ticker on the list of products on the DTCC website does not guarantee future approval for the ETF in question. According to a spokesperson for the DTCC, it is standard practice for the Depository Trust and Clearing Corporation to add securities to the NSCC security eligibility file “in preparation for the launch of a new ETF to the market.” “Appearing on the list is not indicative of an outcome for any outstanding regulatory or other approval processes.” The application for the joint spot Bitcoin ETF, managed by global investment firm Invesco and crypto asset fund Galaxy Digital, was reactivated on the 21st of June. The move to re-lodge the application with the United States Securities and Exchange Commission (SEC)…
Filed under: News - @ November 1, 2023 8:18 am