VanEck’s Spot ETF Ticker Listed on DTCC
The Depository Trust and Clearing Corporation (DTCC) has officially listed the ticker for VanEck’s Spot Bitcoin ETF, which can be identified as ‘HODL’ on the DTCC’s official platform. This listing positions VanEck as a key player in the evolving landscape of Spot ETF investments and is seen as a crucial step towards integrating Spot Bitcoin ETFs into the mainstream financial sector if approved by the SEC.
WisdomTree’s Spot Bitcoin ETF Ticker Also Listed
WisdomTree’s Spot Bitcoin ETF ticker, ‘BTCW’, has also been officially listed on the DTCC website. However, the regulator has consistently delayed approval of WisdomTree’s application.
SEC Faces Deadline for Spot Bitcoin ETF Approvals
The SEC has delayed 13 Spot Bitcoin ETF applications from prominent companies, including BlackRock, ARK Invest, Grayscale, and others. The agency faces a deadline of January 10 to accept or reject these applications. Despite the possibility of rejection, experts predict a 90% chance of approval in January.
Seed Funds for Spot Bitcoin ETFs
In addition to VanEck, major asset management companies like BlackRock, Bitwise, and Fidelity have announced their seed funds for Spot Bitcoin ETFs. Bitwise revealed a $200 million seed fund made by Pantera Capital, while BlackRock and Fidelity plan to seed their Spot Bitcoin ETFs with $10 million and $20 million respectively.
Hot Take: Positive Outlook for Spot Bitcoin ETFs
The listing of VanEck’s Spot Bitcoin ETF ticker on the DTCC platform is a significant development in the push for mainstream adoption of Spot BTC ETFs. With the SEC facing a deadline for approvals, experts believe there is a high chance of Spot BTC ETFs being approved in January. This could lead to increased participation by institutional investors and further growth in the crypto market.
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