Exciting news in the world of cryptocurrency: WisdomTree and VanEck’s ETFs are now officially listed on the Depository Trust & Clearing Corporation (DTCC). This development comes amidst growing anticipation for approval from the U.S. Securities and Exchange Commission (SEC).
With many eyes on the United States Securities and Exchange Commission (SEC) for a potential nod to spot Bitcoin ETFs, there’s a notable development. Among the 11 applicants, WisdomTree and VanEck’s ETFs have officially made it onto the Depository Trust & Clearing Corporation (DTCC). Interestingly, this news arrives just 48 hours before the SEC’s deadline to decide on the Ark 21Shares Bitcoin ETF filing, adding to the heightened anticipation in the crypto space.
WisdomTree and VanEck ETFs Ready for Clearance on DTCC
On Monday, January 8, 2024, both WisdomTree and VanEck marked a significant milestone by listing their ETFs on the Depository Trust & Clearing Corporation (DTCC), patiently anticipating clearance. VanEck’s contribution comes with the ticker $HODL, while WisdomTree introduces $BTCW to the mix. Additionally, Bitwise’s spot Bitcoin ETF, identified by the ticker $BITB, has also secured a spot on the clearance list with DTCC.
It’s essential to understand that these listings don’t automatically signal regulatory clearance, especially considering the pending approval from the U.S. Securities and Exchange Commission (SEC). Notably, prior to these additions, major players like BlackRock, Fidelity, and Invesco Galaxy had already included their spot Bitcoin ETFs in the DTCC list, underscoring the increasing excitement and engagement surrounding ETFs within the cryptocurrency realm.
Bitcoin ETF Approval Concerns Amid SEC Comments
Concerns have surfaced regarding the possible delay in the approval of a Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC). The worry stems from additional comments issued by agency officials on the form S-1s. Despite these concerns, analysts interpret the comments as regulatory necessities rather than signals of the approval decision. Notably, individuals associated with the ETF filers have stated that the SEC has not informed them of any changes in plans.
On a separate note, Bitcoin’s price (BTC) experienced a notable surge, surpassing the $47,000 range on Monday and registering an impressive 8% gain in the last 24 hours. The prevailing optimism surrounding the potential ETF approval is seen as a significant driver behind this surge. This surge marks the highest trading point for the leading cryptocurrency in the past year, with the prospect of ETF approval potentially setting off a bullish trend in the market. Investors are closely watching this development in conjunction with another crucial event on the horizon, the scheduled Bitcoin Halving in April 2024.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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