VanEck, WisdomTree Spot Bitcoin ETF Tickers Secure DTCC Listing as Applicants Await SEC Approval

Forex
January 9, 2024
0

Source: Pixabay

As spot Bitcoin ETF applicants wait for the potential approval by the United States Securities and Exchange Commission (SEC), two prominent applicants, WisdomTree and VanEck, have successfully listed their ETFs on the Depository Trust & Clearing Corporation (DTCC).

The latest Bitcoin ETF ticker listing happened just 2 days before SEC’s deadline to announce its decision on the Ark 21Shares Bitcoin ETF filing.

JUST IN: WisdomTree spot #Bitcoin ETF is now listed on the Depository Trust & Clearing Corporation with the ticker $BTCW pic.twitter.com/K2fMqomaY5

— Bitcoin Magazine (@BitcoinMagazine) January 9, 2024

VanEck and WisdomTree Finalize DTCC Listings

Late Monday, both WisdomTree and VanEck finalized their DTCC listings, with VanEck adopting the ticker symbol $HODL and WisdomTree opting for $BTCW. The inclusion of these ETFs on the DTCC roster does not inherently imply regulatory clearance, as SEC approval remains pending. Notably, BlackRock, Fidelity, and Invesco Galaxy’s spot Bitcoin ETFs have previously found their place on the DTCC list.

Concerns regarding potential delays in the SEC’s approval process surfaced as agency officials issued additional comments on the submitted Form S-1s. However, analysts dismiss these actions as routine regulatory procedures that may not necessarily impact the approval decision. Insights shared by individuals associated with the ETF filers suggest that the SEC has not communicated any alterations to their plans.

Bitcoin Price Rises Amid Heightened Anticipation

Meanwhile, the price of Bitcoin (BTC) experienced a notable surge, breaching the $47,000 mark on Monday and recording an 8% gain in the last 24 hours.

This upward movement is attributed to optimistic sentiments surrounding the potential approval of the ETFs. The current value marks the highest trading point for the leading cryptocurrency in the past year, and speculations arise that an ETF approval could trigger a bullish trend.

Earlier, Standard Chartered predicted that spot ETF approval could bring $50-100 billion into the market. The banking giant further predicted that the price of the leading crypto could surge past $200,000 by 2025.

The post VanEck, WisdomTree Spot Bitcoin ETF Tickers Secure DTCC Listing as Applicants Await SEC Approval appeared first on Cryptonews.