Two Bitcoin ETFs, from WisdomTree and VanEck, recently registered with the Depository Trust & Clearing Corporation (DTCC). This listing comes just two days before the United States Securities and Exchange Commission (SEC) deadline to decide the fate of the 21Shares Ark Bitcoin ETF.
DTCC Listed ETFs
Bitcoin ETFs are exchange-traded funds that invest in Bitcoin. The approval of the ETF by the SEC is expected to open the door for more investors to invest in Bitcoin.
The WisdomTree and VanEck ETFs, with the tickers $BTCW and $HODL, respectively, are now ready for approval. Previously, another spot Bitcoin ETF from Bitwise was also listed on DTCC.
Also read: Everything you need to know about Bitcoin ETFs
No Guarantee of Approval
Even though they are registered with the DTCC, there is no certainty that the SEC will approve these ETFs.
The SEC has issued additional comments on the Bitcoin ETF's S-1 form, leading to speculation about a possible approval delay.
Influence On Crypto Markets
Meanwhile, Bitcoin price rose more than 8%, reaching $47,000, amid hopes of ETF approval. This increase is the highest price of Bitcoin in the last year.
The market expects that the ETF approval could drive a further surge in Bitcoin prices, especially ahead of another important event, namely the Bitcoin Halving , scheduled for April 2024.
Conclusion
Investors and cryptocurrency market players are waiting for the SEC's decision regarding this Bitcoin ETF. Whether there will be approval or delay, this decision is expected to have a major impact on the market.
Also read:
Shiba Inu Burn Rate Soars 900 Percent, SHIB Price Also Rises
What is Bullish Divergence in Crypto Trading?
Understanding Fundamental Analysis and Technical Analysis in the Crypto World
Crypto Airdrop and Guide on How to Get It for Free
DISCLAIMER : This article is informational in nature and is not advice, recommendation, offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time. Bittime is not responsible for changes in exchange rates or crypto asset prices.
Comments
0 comments
Please sign in to leave a comment.