Invesco Galaxy spot Bitcoin ETF joins BlackRock on DTCC site

Source: Cointelegraph

The ticker for Invesco and Galaxy’s spot Bitcoin BTC $34,621 exchange-traded fund (ETF) — BTCO — has appeared on the Depository Trust and Clearing Corporation’s (DTCC) website, marking a step forward in the application process for the two asset managers.

Invesco Galaxy Bitcoin ETF listed on the DTCC’s site. Source: DTCC

The ETF has been added to the list sometime in the last six days, with the web archiver Wayback Machine showing no listing under the ticker BTCO was present on Oct. 25.

A ticker added to the list of “ETF Products” on the DTCC’s site is not a guarantee of future approval for that product.

A DTCC spokesperson said it is standard practice for the DTCC to add securities to the NSCC security eligibility file “in preparation for the launch of a new ETF to the market.”

“Appearing on the list is not indicative of an outcome for any outstanding regulatory or other approval processes,” the spokesperson added.

The application for the joint spot Bitcoin ETF managed by global investment firm Invesco and crypto asset fund Galaxy Digital was reactivated on June 21. 

The move to re-lodge the application with the Securities and Exchange Commission came amid a tidal wave of similar filings for spot Bitcoin ETF products — brought about by investment giant BlackRock lodging its landmark application for a spot Bitcoin ETF on June 15.