Fidelity’s Wise Origin Bitcoin ETF Listed on DTCC as FBTC
Fidelity’s Wise Origin spot Bitcoin ETF, with the ticker symbol FBTC, has been listed on the Depository Trust & Clearing Corporation (DTCC). DTCC provides post-trade clearance, settlement, custody, and information services for various financial products. This listing does not indicate approval from the U.S. Securities and Exchange Commission (SEC) for Fidelity’s application.
Spot Bitcoin ETFs on DTCC List
The DTCC list also includes spot Bitcoin ETFs from Invesco Galaxy and BlackRock. However, it is important to note that these funds are still awaiting the SEC’s decision. Other funds waiting for approval include Franklin Templeton, Grayscale Investments, and Fidelity.
Potential Catalyst for a Bull Market
The launch of these investment products, particularly the approval of Bitcoin ETFs by the SEC, is seen as a potential catalyst for a new bull cycle in the crypto market. Bloomberg analysts estimate a 90% likelihood of SEC approval for the ETFs in early January 2024.
Hot Take: Wise Origin FBTC Listing Signals Progress in Crypto Investment
Fidelity’s Wise Origin spot Bitcoin ETF listing on the DTCC as FBTC signifies progress in the realm of crypto investment. While this listing doesn’t guarantee SEC approval, it demonstrates increased interest and participation from major financial institutions in offering Bitcoin-related investment products. The anticipation surrounding the launch of these ETFs suggests that they could play a significant role in shaping the future of the crypto market. If approved, they may attract more institutional investors and potentially fuel a bull market cycle. As we await further developments and decisions from regulatory bodies like the SEC, it remains an exciting time for crypto enthusiasts and investors.
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