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Another Bitcoin ETF on DTCC. One of the giants in the financial world, BlackRock, has shaken up the agenda with its spot Bitcoin ETF application and following this, the spot Bitcoin ETF application of another company named INVESCO & Galaxy was also current on the Depository Trust & Clearing Corporation (DTCC) list, exciting investors.
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A short time ago, BlackRock’s application caused a rally in BTC prices. However, the application disappeared from the list. After that, the website was temporarily unavailable, leading to various speculations in financial circles. Currently, both BlackRock’s and INVESCO & Galaxy’s applications are current on the DTCC list.
The reason why BlackRock’s application was withdrawn is that it was taken under examination due to intense interest. This shows people followed how closely developments in the world of cryptocurrency.
DTCC plays a critical role in the American ETF market. If an ETF is added to the DTCC list, this means that a brokerage bank has requested the DTCC to act on a specific ETF fund. Also, the DTCC can carry out this transaction at an unspecified date in the future.
While this process is standard for launching an ETF on the market, being listed is not an indication of success in terms of regulatory or other approval processes.
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