“Invesco Galaxy spot Bitcoin ETF’s inclusion on the DTCC site alongside BlackRock further solidifies the growing acceptance and mainstream adoption of cryptocurrencies in the investment landscape.”
Invesco and Galaxy’s spot Bitcoin exchange-traded fund (ETF), BTCO, has taken a step forward in the application process as its ticker appeared on the Depository Trust and Clearing Corporation’s (DTCC) website. The ETF was added to the list within the last six days, indicating progress in the approval process. However, it is important to note that being listed on the DTCC’s site does not guarantee future approval.
A spokesperson from the DTCC clarified that adding securities to the NSCC security eligibility file is a standard practice in preparation for the launch of a new ETF. The spokesperson emphasized that being on the list does not indicate the outcome of any regulatory or approval processes.
The joint spot Bitcoin ETF application by Invesco and Galaxy Digital was reactivated on June 21. This move came amidst a surge of similar filings for spot Bitcoin ETF products, triggered by BlackRock’s application for a spot Bitcoin ETF on June 15.
Overall, the appearance of BTCO’s ticker on the DTCC’s website indicates progress in the application process, but it does not guarantee approval. The cryptocurrency industry continues to witness increased interest and filings for Bitcoin ETFs, reflecting the growing demand for regulated investment options in the digital asset space.