As spot Bitcoin ETF candidates anticipate the potential approval by america Securities and Alternate Fee (SEC), two outstanding candidates, WisdomTree and VanEck, have successfully listed their ETFs on the Depository Belief & Clearing Company (DTCC).
The newest Bitcoin ETF ticker itemizing occurred simply 2 days earlier than SEC’s deadline to announce its resolution on the Ark 21Shares Bitcoin ETF submitting.
JUST IN: 🇺🇸 WisdomTree spot #Bitcoin ETF is now listed on the Depository Belief & Clearing Company with the ticker $BTCW pic.twitter.com/K2fMqomaY5
— Bitcoin Journal (@BitcoinMagazine) January 9, 2024
VanEck and WisdomTree Finalize DTCC Listings
Late Monday, each WisdomTree and VanEck finalized their DTCC listings, with VanEck adopting the ticker image $HODL and WisdomTree choosing $BTCW. The inclusion of those ETFs on the DTCC roster doesn’t inherently indicate regulatory clearance, as SEC approval stays pending. Notably, BlackRock, Constancy, and Invesco Galaxy’s spot Bitcoin ETFs have beforehand discovered their place on the DTCC checklist.
Considerations concerning potential delays within the SEC’s approval course of surfaced as company officers issued extra feedback on the submitted Form S-1s. Nevertheless, analysts dismiss these actions as routine regulatory procedures that will not essentially influence the approval resolution. Insights shared by people related to the ETF filers counsel that the SEC has not communicated any alterations to their plans.
Bitcoin Value Rises Amid Heightened Anticipation
In the meantime, the worth of Bitcoin (BTC) skilled a notable surge, breaching the $47,000 mark on Monday and recording an 8% achieve within the final 24 hours.
This upward motion is attributed to optimistic sentiments surrounding the potential approval of the ETFs. The present worth marks the very best buying and selling level for the main cryptocurrency previously 12 months, and speculations come up that an ETF approval might set off a bullish pattern.
Earlier, Customary Chartered predicted that spot ETF approval might convey $50-100 billion into the market. The banking big additional predicted that the worth of the main crypto might surge previous $200,000 by 2025.