Fidelity's spot Bitcoin ETF joins BlackRock on DTCC site
The DTCC facilitates the settlement of trillions of dollars in stocks, ETFs, and other securities transactions every day.
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Fidelity’s Wise Origin Bitcoin Trust, a proposed spot Bitcoin exchange-traded fund (ETF), has appeared on the Depository Trust and Clearing Corporation’s (DTCC) list of new securities with the ticker FBTC. This comes after BlackRock’s highly anticipated spot Bitcoin ETF, the iShares Bitcoin Trust, was added to the DTCC site in October.
— Bitcoin Magazine (@BitcoinMagazine) December 7, 2023
While approval from the Securities and Exchange Commission (SEC) is still pending for both Fidelity’s and BlackRock’s Bitcoin ETFs, addition to the DTCC site is standard procedure when an ETF provider is gearing up to launch a new fund.
Over a dozen asset managers are seeking approval from the SEC for a spot Bitcoin ETF, including heavyweights like BlackRock, Grayscale, VanEck, and WisdomTree.
After the SEC has rejected spot crypto ETFs for years, Bloomberg ETF analyst James Seyffart suggests that the Commission may be lining up a wave of bitcoin ETF approvals for early 2024.
Bloomberg ETF analyst James Seyffart predicts the decision window for Bitcoin ETF approvals will be January 5-10 based on typical SEC procedures and timelines. He believes any SEC orders approving Bitcoin ETFs will likely come on January 8, 9, or 10.
When the BlackRock DTCC news broke in October, Bitcoin’s price surged nearly 11% in 24 hours. The rally continued, taking Bitcoin’s price above $35,000 briefly.
At press time, Bitcoin is changing hands at nearly $44,000, flat 0.3% over the past 24 hours, according to CoinGecko.