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Invesco and Galaxy's Bitcoin ETF emerges on DTCC website

EditorAmbhini Aishwarya
Published 11/01/2023, 06:35 AM
© Reuters.

Invesco and Galaxy's spot Bitcoin Exchange-Traded Fund (ETF), denoted by the ticker BTCO, has appeared on the Depository Trust & Clearing Corporation's (DTCC) website, according to data from the WayBack Machine. This inclusion is a recent development as the ticker was not present on the site on October 25, 2023.

Securities like BTCO are often added to the National Securities Clearing Corporation (NSCC) security eligibility file in anticipation of a potential market launch. However, the DTCC clarified that such an addition does not imply an endorsement of the product or guarantee future approval. This step does not provide any assurances regarding the outcomes of regulatory approval processes.

Alongside Invesco and Galaxy, BlackRock (NYSE:BLK) has also submitted an application for a spot Bitcoin ETF, which is currently listed on the DTCC register. This listing signifies an intermediary bank's intention to acquire a DTCC designation, contingent upon approval from the Securities and Exchange Commission (SEC).

Due to heightened attention, BlackRock's application was briefly delisted for further scrutiny but has since been reinstated. However, it should be noted that being on the DTCC list does not ensure successful navigation through necessary regulatory or other approval processes.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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