The Invesco and Galaxy Spot Bitcoin exchange-traded fund (ETF) is making progress in its application process.
The ETF, identified by the ticker BTCO, has recently appeared on the Depository Trust and Clearing Corporation’s (DTCC) website.
Notably, the BTCO ticker was not listed on the DTCC website as of October 25, indicating that this change has occurred within the last six days.
However, it’s essential to understand that being added to the list of “ETF Products” on the DTCC’s site does not guarantee the ETF’s future approval.
A DTCC spokesperson clarified that adding securities to the NSCC security eligibility file is part of the standard procedure when preparing for the launch of a new ETF in the market.
This listing does not provide insight into the outcome of ongoing regulatory or approval processes.
The joint spot Bitcoin ETF application, managed by global investment firm Invesco and crypto asset fund Galaxy Digital, was reactivated on June 21.
This decision followed a wave of similar filings for spot Bitcoin ETF products, triggered by investment giant BlackRock’s groundbreaking application for a spot Bitcoin ETF submitted on June 15.