Spot Bitcoin ETF Listed on Depository Trust & Clearing Corporation (DTCC)
Depository Trust & Clearing Corporation (DTCC), the clearing and settlement company, has listed another spot Bitcoin (BTC) ETF on its website. DTCC provides post-trade clearance, settlement, custody, and information services for various financial products.
The listing of a spot Bitcoin ETF on DTCC is an important step in bringing the ETF to market. The DTCC list typically includes both active and potential ETFs. Previously, Fidelity’s Wise Origin Spot Bitcoin ETF, as well as spot Bitcoin ETFs from Invesco Galaxy and BlackRock, were also listed on the site.
Bitwise’s Re-application for a Spot Bitcoin ETF
On June 16th, Bitwise Asset Management submitted a re-application for a spot Bitcoin ETF. This comes after the U.S. Securities and Exchange Commission (SEC) rejected their previous application a year ago, citing concerns about oversight and investor protection against market manipulation.
The re-application coincided with BlackRock’s filing for a spot ETF, which sparked optimism within the crypto community. The fact that the world’s largest asset management company is interested in launching a spot ETF shows institutional players’ willingness to invest actively in cryptocurrencies.
Hot Take: Growing Interest in Spot Bitcoin ETFs
With the listing of another spot Bitcoin ETF on DTCC and the re-applications from Bitwise and BlackRock, it is evident that there is a growing interest in spot Bitcoin ETFs among institutional investors. This signals a shift towards mainstream adoption of cryptocurrencies, as more established financial players recognize the potential and value of digital assets. As regulatory concerns are addressed and investor protection measures are strengthened, the introduction of spot Bitcoin ETFs could provide a new level of accessibility and legitimacy to the crypto market, attracting a broader range of investors.
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