As the deadline for the United States Securities and Exchange Commission (SEC) to announce its decision on the Ark 21Shares Bitcoin ETF filing approaches, two prominent applicants, WisdomTree and VanEck, have successfully listed their ETFs on the Depository Trust & Clearing Corporation (DTCC).
DTCC Listings for WisdomTree and VanEck
Last Monday, WisdomTree and VanEck finalized their DTCC listings. VanEck adopted the ticker symbol $HODL, while WisdomTree chose $BTCW. It is important to note that the inclusion of these ETFs on the DTCC roster does not guarantee regulatory clearance, as SEC approval is still pending.
BlackRock, Fidelity, and Invesco Galaxy have previously listed their spot Bitcoin ETFs on the DTCC. Concerns have been raised about potential delays in the SEC approval process, but analysts believe these are routine regulatory procedures that may not have a significant impact on the final decision. The SEC has not communicated any changes to the plans of the ETF filers.
Bitcoin Price Surge Ahead of ETF Decision
In recent days, the price of Bitcoin (BTC) has experienced a notable surge, surpassing the $47,000 mark and recording an 8% gain in the last 24 hours. This upward movement is linked to optimistic sentiments surrounding the potential approval of the ETFs. The current value represents the highest trading point for Bitcoin in the past year, leading to speculations about a potential bullish trend if the ETFs are approved.
“Spot ETF approval could bring $50-100 billion into the market.”
Standard Chartered, a banking giant, predicts that if spot ETFs are approved, it could bring a significant influx of $50-100 billion into the market. The bank also forecasts that Bitcoin’s price could surge past $200,000 by 2025.
