Asset manager Fidelity's proposed spot bitcoin (BTC) exchange-traded fund (ETF) has been added to the DTCC (Depository Trust & Clearing Corporation) list. This entity is responsible for the clearing, settlement and servicing of securities in the US market.
The ETF is named “Fidelity Wise Origin Bitcoin” and has the ticker FBTC, as can be seen on the DTCC website.
Although this does not mean regulatory approval, it is one of the necessary steps that must be completed to launch the financial instrument on the market. This also means that the Fidelity ETF is now officially recognized.
In this way, Fidelity joins companies such as BlackRock and the firm Ark Invest that also has its ETF registered with the DTCC.
Eric Balchunas, an analyst at Bloomberg Intelligence, spoke about the choice of the Fidelity ETF ticker , calling it “boring” and aimed at a traditional audience.
The specialist has made these types of comments before , arguing that companies do so because the symbols are aimed at financial advisors and the “wealthy boomers they serve, rather than being aimed at retail.”
Balchunas also mentioned that “the next big revelation to watch out for” from ETF issuers has to do with fees. “They will probably be announced at the last minute before the ETFs launch,” he said.
Balchunas also mentioned that “the next big revelation to watch out for” from ETF issuers has to do with fees. “They will probably be announced at the last minute before the ETFs launch,” he said.
So far, there are 13 spot bitcoin ETF applications that the United States Securities and Exchange Commission (SEC) has in its hands. According to some specialists, the dates on which the approval of the ETFs could be known would be between January 8 and 10, 2024 .
