The Depository Trust and Clearing Corporation (DTCC) has officially listed the Spot Bitcoin ETF tickers from investment management firm, VanEck. The firm’s Spot Bitcoin ETF has appeared on the active and pre-launch list of the DTCC and can be identified by the ticker ‘HODL’. This listing positions VanEck as a significant player in the Spot ETF investments landscape and is seen as a crucial step towards integrating Spot Bitcoin ETFs into the mainstream financial sector, pending approval from the United States Securities and Exchange Commission (SEC).
WisdomTree’s Spot Bitcoin ETF ticker, ‘BTCW’ has also been officially listed on the DTCC website. The firm submitted its Spot BTC ETF application to the US SEC in June 2023, but the regulator has consistently delayed approval. The SEC has also delayed 13 Spot Bitcoin ETF applications from prominent companies such as BlackRock, ARK Invest, Grayscale, and others. The regulatory agency faces a deadline of January 10, to either accept or reject these Spot Bitcoin ETF applications. However, experts, including Bloomberg analysts, James Seyffart and Eric Balchunas, have revealed a 90% chance of the regulator approving Spot BTC ETFs in January.
On Monday, January 8, VanEck submitted an amended Spot Bitcoin ETF S-1 filing to the SEC. In its filing, VanEck disclosed that the company had purchased 1,640.92489329 BTC worth $72.5 million on January 5, to support its Spot ETF. This substantial seeding will provide a solid foundation for VanEck’s Spot Bitcoin ETF, potentially paving the way for increased participation by institutional investors.
Major asset management companies in the Spot Bitcoin ETF race like BlackRock, Bitwise, and Fidelity have announced their various seed funds. Bitwise revealed a $200 million seed fund made by Pantera Capital to support its Spot BTC ETF. The company has also put forward $500,000 to fund its proposed Spot BTC ETF. Meanwhile, BlackRock and Fidelity have announced plans to seed their Spot Bitcoin ETFs with $10 million and $20 million respectively. BlackRock previously submitted an amended S-1 filing to the SEC in December, revealing a 227.9 BTC purchase to seed its Spot ETF by January 3.
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This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Eric Balchunas, James Seyffart |
| Companies | Depository Trust and Clearing Corporation (DTCC), Grayscale, Bitwise, BlackRock, WisdomTree, Pantera Capital, VanEck, ARK Invest, Fidelity |
| Currencies | Bitcoin |
| Securities | None |
