Invesco Galaxy BTC ETF is Now Listed on DTCC with BlackRock’s iShares
- Invesco Galaxy Digital Bitcoin spot ETF has been listed on the DTCC website under the ticker ‘BTCO.’
- BTCO has been listed along with BlackRock’s iShares Bitcoin spot ETF (IBTC).
- The ticker BTCO has been added sometime in the past six days.
- Leading trading firms are in talks with BlackRock to provide liquidity for its proposed BTC ETF.
The ticker for the Bitcoin spot exchange-traded fund (ETF) by major investment management firms Invesco and Galaxy Digital (BTCO) was seen on the website of the Depository Trust and Clearing Corporation’s (DTCC). It is a widely held belief that any security before public listing first enters the DTCC website, marking a step forward in the process of regulatory approval.
According to the official DTCC website, the spot ETF by the largest asset management firm in the world, BlackRock, along with the Invesco Galaxy Bitcoin ETF are both present. The two ETFs are present under tickers BTCO and IBTC, respectively. More importantly, BTCO has been added to the list sometime in the last six days, as the web archiver WayBack Machine shows no listing under BTCO on October 25.
However, it is important to note that a ticker added to the DTCC website is not a complete confirmation and does not guarantee the approval of the Invesco Galaxy Bitcoin ETF or the iShares Bitcoin ETF. However, it does send a positive message for the digital asset community, which has experienced a bear market since the 2022 market collapse.
Interestingly, in a report, DTCC stated that the listing of the iShares Bitcoin spot ETF came in August but was noticed recently. Additionally, a spokesperson also noted that “appearing on the list is not indicative of an outcome for any outstanding regulatory or other approval processes.” Bitcoin printed significantly bullish candles after the possible approval of the Bitcoin spot ETF by BlackRock broke out in the industry.
According to a report from CoinDesk, leading trading firms are currently in talks with BlackRock to provide liquidity for its proposed exchange-traded fund. Jane Street, Virtu Financial, Jump Trading, and Hudson River Trading have all engaged in conversations with the leading asset management firm.
On the other hand, insiders at Invesco and BlackRock have stated that approval for their spot Bitcoin ETF applications can come in the next few months. The analysts at Cantor Fitzgerald, an American financial services firm founded in 1945, are “increasingly confident” that a spot Bitcoin ETF will be approved by the Securities and Exchange Commission (SEC) soon in the US.