Bitwise’s Spot Bitcoin ETF Included in DTCC List: Is Approval Approaching?

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• Bitwise’s spot Bitcoin exchange-traded fund (ETF) is now visible on the Depository Trust & Clearing Corporation (DTCC) active and pre-launch list.
• According to DTCC data, Bitwise’s spot Bitcoin ETF has been listed on the Depository Trust & Clearing Corporation (DTCC) website.
• The recent listing of several spot Bitcoin ETFs on DTCC has created a bullish trend regarding SEC approval.

Bitwise’s application for a spot Bitcoin ETF has been added to the DTCC site: Are companies getting closer to ETF approval in the US?

Bitwise Bitcoin ETF Added to DTCC Site

Bitwise’s spot Bitcoin ETF is now visible on the Depository Trust & Clearing Corporation (DTCC) active and pre-launch list. Bitwise’s spot Bitcoin ETF is listed under the abbreviation BITB. This is a significant progress in the company’s efforts to obtain approval for the first spot Bitcoin ETF in the US.

According to DTCC data, Bitwise’s spot Bitcoin ETF is listed on the Depository Trust & Clearing Corporation (DTCC) website. Wise Origin Bitcoin FD SHS is listed under the abbreviation BITB. This indicates that the approval of the US Securities and Exchange Commission (SEC) for the spot Bitcoin ETF is imminent, and constructive discussions are ongoing.

The recent listing of several spot Bitcoin ETFs on DTCC has created a bullish trend regarding SEC approval. BlackRock, Fidelity, and Invesco Galaxy’s spot Bitcoin ETFs are on the list, but experts have noted that the list does not represent regulatory approval.

Matt Hougan, Chief Investment Officer at Bitwise Asset Management, highlighted the potential introduction of a spot Bitcoin ETF in the US as a significant factor. He predicted that Bitcoin would soon reach a new all-time high as a hedge against inflation.

Bitcoin Rises with Expectations of ETF Approval

Matrixport research predicted a bullish rally to $45,000 by the end of the year when the BTC price traded around $35,000. The firm also forecasted the BTC price to reach $60,000 before the Bitcoin halving.

Bitwise predicts that Bitcoin will trade above $80,000 in 2024 and set a new all-time high. Spot Bitcoin ETFs are expected to be considered the most successful ETF launch of all time.

The excitement about spot Bitcoin ETFs in the bull market is pushing the price higher. The dovish Fed confirms a bullish outlook for the market. However, traders should be cautious against unexpected events.