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Bitcoin

WisdomTree Spot Bitcoin ETF Is Now Listed On The DTCC To Prepare For The Coming Boom

January 9, 2024 - Around 2 mins mins to read

Key Points:

  • WisdomTree spot Bitcoin ETF surfaced on the DTCC website without SEC approval, signaling anticipation for regulatory green light.
  • Optimism rises for spot Bitcoin ETF approval after a federal appeals court challenges the SEC’s rejection of Grayscale’s Bitcoin Trust conversion, reshaping the regulatory outlook.
In a surprising turn of events, information about the WisdomTree spot Bitcoin ETF has surfaced on the Depository Trust & Clearing Corporation (DTCC) website, despite lacking approval from the U.S. Securities and Exchange Commission (SEC).
WisdomTree Spot Bitcoin ETF Is Now Listed On The DTCC To Prepare For The Coming Boom
WisdomTree Spot Bitcoin ETF Is Now Listed On The DTCC To Prepare For The Coming Boom 3

The WisdomTree spot Bitcoin ETF, identified by the ticker BTCW, awaits the SEC’s green light, with concerns lingering about potential market manipulation and fraud in the cryptocurrency space, issues that have hindered previous spot ETF proposals.

Despite the uncertainty, WisdomTree‘s proactive listing on the DTCC suggests a strong belief in the imminent success of their proposal. This strategic move mirrors the preparation undertaken by the asset manager, reflecting their confidence in the forthcoming approval.

Notably, the VanEck spot Bitcoin ETF, labeled HODL, has also found its place on the DTCC, emphasizing the growing interest in cryptocurrency-based investment products.

WisdomTree Spot Bitcoin ETF Is Now Listed On The DTCC To Prepare For The Coming Boom
WisdomTree Spot Bitcoin ETF Is Now Listed On The DTCC To Prepare For The Coming Boom 4

SEC Chair Gary Gensler recently took to social media, urging caution among crypto investors. While not explicitly mentioning the spot Bitcoin ETFs, Gensler emphasized the potential non-compliance of asset managers with federal securities laws, warning of the exceptionally risky and volatile nature of cryptocurrencies.

The SEC’s history of rejecting spot Bitcoin ETFs due to investor protection concerns has cast a shadow over hopes for approval. However, optimism surged following a federal appeals court ruling that deemed the SEC wrong in rejecting Grayscale’s application to convert its Bitcoin Trust into a spot Bitcoin ETF, a decision that could impact the fate of other similar proposals in the future. Investors and asset managers remain on edge, awaiting the SEC’s final decision in this evolving regulatory landscape.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
Bitcoin

WisdomTree Spot Bitcoin ETF Is Now Listed On The DTCC To Prepare For The Coming Boom

Key Points:

  • WisdomTree spot Bitcoin ETF surfaced on the DTCC website without SEC approval, signaling anticipation for regulatory green light.
  • Optimism rises for spot Bitcoin ETF approval after a federal appeals court challenges the SEC’s rejection of Grayscale’s Bitcoin Trust conversion, reshaping the regulatory outlook.
In a surprising turn of events, information about the WisdomTree spot Bitcoin ETF has surfaced on the Depository Trust & Clearing Corporation (DTCC) website, despite lacking approval from the U.S. Securities and Exchange Commission (SEC).
WisdomTree Spot Bitcoin ETF Is Now Listed On The DTCC To Prepare For The Coming Boom
WisdomTree Spot Bitcoin ETF Is Now Listed On The DTCC To Prepare For The Coming Boom 7

The WisdomTree spot Bitcoin ETF, identified by the ticker BTCW, awaits the SEC’s green light, with concerns lingering about potential market manipulation and fraud in the cryptocurrency space, issues that have hindered previous spot ETF proposals.

Despite the uncertainty, WisdomTree‘s proactive listing on the DTCC suggests a strong belief in the imminent success of their proposal. This strategic move mirrors the preparation undertaken by the asset manager, reflecting their confidence in the forthcoming approval.

Notably, the VanEck spot Bitcoin ETF, labeled HODL, has also found its place on the DTCC, emphasizing the growing interest in cryptocurrency-based investment products.

WisdomTree Spot Bitcoin ETF Is Now Listed On The DTCC To Prepare For The Coming Boom
WisdomTree Spot Bitcoin ETF Is Now Listed On The DTCC To Prepare For The Coming Boom 8

SEC Chair Gary Gensler recently took to social media, urging caution among crypto investors. While not explicitly mentioning the spot Bitcoin ETFs, Gensler emphasized the potential non-compliance of asset managers with federal securities laws, warning of the exceptionally risky and volatile nature of cryptocurrencies.

The SEC’s history of rejecting spot Bitcoin ETFs due to investor protection concerns has cast a shadow over hopes for approval. However, optimism surged following a federal appeals court ruling that deemed the SEC wrong in rejecting Grayscale’s application to convert its Bitcoin Trust into a spot Bitcoin ETF, a decision that could impact the fate of other similar proposals in the future. Investors and asset managers remain on edge, awaiting the SEC’s final decision in this evolving regulatory landscape.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.