In the United States, anticipation is high for the SEC’s approval of spot Bitcoin ETFs. Two out of 11 ETF applicants, WisdomTree and VanEck, were recently listed with the Depository Trust & Clearing Corporation (DTCC), just 48 hours before the SEC’s deadline to decide on the Ark 21Shares Bitcoin ETF application.
WisdomTree and VanEck were listed on DTCC on January 8, 2024, with the tickers $BTCW and $HODL, respectively. This follows Bitwise’s spot Bitcoin ETF listing on DTCC under the ticker $BITB.
Despite these listings, it’s important to note that they do not guarantee SEC approval, and the SEC could still issue a rejection based on new justifications.
Prior to these events, BlackRock, Fidelity, and Invesco Galaxy’s spot Bitcoin ETFs had also found their way onto DTCC’s lists.
Concerns have resurfaced about the SEC potentially not approving a Bitcoin ETF, despite additional comments on S-1 forms by SEC officials causing unease. However, some analysts remain optimistic, viewing these as mere regulatory formalities unrelated to the final decision. Meanwhile, Bitcoin’s price surged past $47,000 amid expectations of an ETF approval, marking the highest level reached by Bitcoin in 2023 and potentially signaling a bull run before the anticipated April 2024 Bitcoin halving event.