The Invesco Galaxy ETF shows its tickr. The path traced towards approval of spot Bitcoin ETFs is peppered with many steps. Some are dependent on the ill will of the Securities and Exchange Commission (DRY) the United States. Others at the origin of recent explosive misunderstandings, as in the case of the iShares version of BlackRock. In question, its standard registration on the register of the Depository Trust & Clearing Corporation (DTCC). A stage to which we have just been invited the BTCO version of Invesco and Galaxy.
New milestone for the Invesco Galaxy ETF
When requesting approval of a Exchange Traded Funds (ETFs) each step has its importance. However, it is not necessary to overestimate some on the sole basis of a chronically impatient market.
This is the case for the registration of the latter in the register of the clearing house Depository Trust & Clearing Corporation (DTCC). An independent financial institution responsible for ensuring the proper functioning of this type of financial vehicle.
An official document in which the Invesco Galaxy Spot Bitcoin ETF has just appeared, under the BTCO ticket. This alongside the giant BlackRock already registered with losses and crashes last October 24.
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DTCC does not mean approved
However, it seems necessary to clarify an important point. This entry in the register of the Depository Trust & Clearing Corporation (DTCC) means nothing other thana legal notice presented as standard. This is part of an approval process still pending with the SEC.
Indeed, those responsible for this structure were obliged, in the recent case of BlackRock, to calm things down. This by explaining that “the fact of appearing on the list does not indicate the outcome of any regulatory process or other approval process in progress. »
Because the long-awaited approval from the SEC in this matter of spot Bitcoin ETFs is still pending. And the last example of VanEck reviewing his copy suggests that this road could still be long. A case to follow…
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