November 2, 2023

Invesco Galaxy Bitcoin Spot ETF Appears on DTCC Site

The Invesco Galaxy Bitcoin ETF is now listed on the clearing house's website, but this does not necessarily mean that it will be approved.

The ticker for Invesco and Galaxy's spot Bitcoin exchange-traded fund (ETF), BTCO, has been added to the Depository Trust and Clearing Corporation's (DTCC) website. This is a positive step for the two asset managers, as it indicates that the application process is moving forward.

The ETF was added to the list sometime in the last six days, as the web archiver Wayback Machine shows that it was not listed on October 25.

However, it is important to note that being listed on the DTCC's website is not a guarantee of future approval. A DTCC spokesperson said that it is standard practice to add securities to the NSCC security eligibility file in preparation for the launch of a new ETF, but that appearing on the list does not indicate the outcome of any outstanding regulatory or other approval processes.

The application for the joint spot Bitcoin ETF managed by global investment firm Invesco and crypto asset fund Galaxy Digital was reactivated on June 21. This move came after investment giant BlackRock lodged its own landmark application for a spot Bitcoin ETF on June 15, which triggered a wave of similar filings from other investment firms.

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