Listing on DTCC website indicates advancement in application process, but approval not guaranteed
The ticker for Invesco and Galaxy's spot Bitcoin (BTC) exchange-traded fund (ETF), known as BTCO, has been added to the Depository Trust and Clearing Corporation's (DTCC) website. This development indicates a step forward in the application process for the ETF. However, it's important to note that this listing does not guarantee future approval for the ETF.
The joint spot Bitcoin ETF managed by Invesco and Galaxy Digital was reactivated in June, following BlackRock's application for a spot Bitcoin ETF. The appearance of BTCO on the DTCC's website now places it alongside BlackRock's application, suggesting a similar stage of progress in the application process.
While the listing of BTCO on the DTCC's website is a positive sign, it does not guarantee approval. The final decision will be made by the regulatory authorities. As the situation develops, further information will be provided. For now, investors and interested parties are advised to monitor the situation closely.
The addition of Invesco and Galaxy's spot Bitcoin ETF ticker to the DTCC's website is a step forward in the application process. However, it does not guarantee approval. The situation is fluid and further updates will be provided as they become available. Investors should keep a close eye on the developments.