DTCC website now offers Bitcoin ETFs in addition to BlackRock
On a daily basis, the DTCC helps settle securities transactions worth billions of dollars.
The Depository Trust and Clearing Corporation (DTCC) has added Fidelity’s Wise Origin Bitcoin Trust, a prospective spot Bitcoin ETF, to its list of new securities with the symbol FBTC. This follows the October addition of BlackRock’s iShares Bitcoin Trust, a much-anticipated spot Bitcoin ETF, to the DTCC platform.
While the SEC has not yet approved the Bitcoin exchange-traded funds (ETFs) offered by Fidelity and BlackRock, it is common practice for ETF providers to announce their plans to launch new funds on the DTCC website.
Notable asset managers, including BlackRock, Grayscale, VanEck, and WisdomTree, are among the more than twelve requesting the SEC’s permission for a spot Bitcoin ETF.
Bloomberg ETF expert James Seyffart speculates that the SEC could be preparing an uprising of bitcoin ETF approvals for early 2024, after years of rejection of spot crypto ETFs.
Based on usual SEC processes and deadlines, ETF expert James Seyffart of Bloomberg estimates that the decision window for Bitcoin ETF approvals will be January 5–10. According to him, January 8, 9, or 10 is when the SEC is most likely to issue an order legalizing Bitcoin ETFs.
The price of Bitcoin increased by around 11% in a single day when the news about BlackRock DTCC was announced in October.
According to CoinGecko, Bitcoin is now trading at roughly $44,000, representing a flat 0.3% over the previous 24 hours.