Invesco Galaxy Bitcoin ETF Appears on DTCC Site
01 Nov, 2023 ● Coin news
The ticker BTCO for Invesco and Galaxy's spot Bitcoin (BTC) exchange-traded fund (ETF) has appeared on the Depository Trust and Clearing Corporation's (DTCC) website, marking a step forward in the two asset managers' application process.
The ETF was added to the list within the last six days, according to Wayback Machine, which shows no listing under the ticker BTCO on Oct. 25.
A ticker added to the DTCC's list of "ETF Products" does not guarantee future approval for that product.
According to a DTCC spokesperson, adding securities to the NSCC security eligibility file is standard practice "in preparation for the launch of a new ETF into the market."
“Appearing on the list is not indicative of an outcome for any outstanding regulatory or other approval processes,” the spokesperson added.
On June 21, the application for the joint spot Bitcoin ETF managed by Invesco and crypto asset fund Galaxy Digital was reactivated.
The decision to re-file the application with the Securities and Exchange Commission came amid a flood of similar filings for spot Bitcoin ETF products, triggered by investment firm BlackRock's historic application for a spot Bitcoin ETF on June 15.