Key Points:
- BTCO ticker added to the DTCC’s “ETF Products” list, but no guarantee of approval.
- Routine practice by DTCC as they prepare for new ETF launches.
- The reactivation of the joint spot Bitcoin ETF application amid increased industry interest.
In a notable development, the Invesco Galaxy Bitcoin ETF (BTCO) has made its presence felt on the Depository Trust and Clearing Corporation’s (DTCC) website. However, it’s important to clarify that this listing does not necessarily signal an imminent approval.
The ticker symbol for the Invesco and Galaxy’s spot Bitcoin exchange-traded fund (ETF), BTCO, has now been included on the DTCC’s website, signifying progress in the application process for these two prominent asset managers. Notably, this addition to the DTCC’s “ETF Products” list has occurred within the past six days, as evident from the absence of a BTCO listing on October 25 according to the WayBack Machine.
It’s crucial to emphasize that being featured on this list doesn’t guarantee future approval for the ETF. A spokesperson from DTCC has clarified that this practice is a routine step, as the DTCC prepares for the launch of a new ETF in the market. Furthermore, this inclusion does not provide any insight into the outcome of ongoing regulatory or approval procedures.
And now Invesco has reactivated their 19b-4 for their spot ETF https://t.co/D2zTpqrqJH
— Eric Balchunas (@EricBalchunas) June 20, 2023
The application for the joint spot Bitcoin ETF, managed collaboratively by global investment firm Invesco and cryptocurrency asset fund Galaxy Digital, was reactivated on June 21. This decision coincided with a surge in similar filings for spot Bitcoin ETF products, driven by BlackRock’s submission of its landmark application for a spot Bitcoin ETF on June 15.
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