VanEck and WisdomTree Secure DTCC Listings
Two prominent Bitcoin ETF applicants, VanEck and WisdomTree, have successfully listed their ETFs on the Depository Trust & Clearing Corporation (DTCC). This development comes as spot Bitcoin ETF applicants eagerly await potential approval from the United States Securities and Exchange Commission (SEC). VanEck adopted the ticker symbol $HODL for its ETF, while WisdomTree opted for $BTCW. It’s important to note that being listed on the DTCC does not guarantee regulatory clearance, as SEC approval is still pending. Other ETFs from BlackRock, Fidelity, and Invesco Galaxy have also been listed on the DTCC in the past.
Concerns Over SEC Approval Process
There have been concerns about potential delays in the SEC’s approval process, as agency officials made additional comments on the submitted Form S-1s. However, analysts believe that these actions are routine regulatory procedures and may not necessarily impact the final decision. Individuals associated with the ETF filers have stated that the SEC has not communicated any changes to their plans.
Bitcoin Price Surges Amid Expectations
The price of Bitcoin experienced a significant surge, surpassing $47,000 and recording an 8% gain in the last 24 hours. This rise in price is attributed to optimistic sentiments surrounding the potential approval of Bitcoin ETFs. It is speculated that an approved ETF could trigger a bullish trend in the market. Standard Chartered has predicted that a spot ETF approval could bring in $50-100 billion into the market and push the price of Bitcoin above $200,000 by 2025.
Hot Take: VanEck and WisdomTree Secure DTCC Listings Ahead of SEC Decision
VanEck and WisdomTree have successfully listed their Bitcoin ETFs on the DTCC, but SEC approval is still pending. The inclusion of these ETFs on the DTCC does not guarantee regulatory clearance. However, the market has responded positively to this development, with Bitcoin’s price surging above $47,000. There is heightened anticipation for the SEC’s decision on Bitcoin ETFs, as approval could lead to a bullish trend and potentially attract billions of dollars into the market. Investors are eagerly awaiting the outcome, which could have significant implications for the future of cryptocurrency investments.
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