Bitcoin Unmoved By Invesco And Galaxy Spot BTC ETF Ticker Listing On DTCC Website

When BlackRock's spot Bitcoin exchange-traded fund was spotted on the official website of the Depository Trust and Clearing Corporation, the crypto asset surged and traded above $35,000. This week, however, the king of crypto was unmoved despite the ticker of Invesco and Galaxy's spot Bitcoin ETF was listed on the DTCC website.

The appearance of the ticker on DTCC's official site is considered a significant development in the progress of the Bitcoin ETF applications of several Wall Street giants.

Investment management company Invesco, which manages approximately $1.4 trillion in assets, first applied for Bitcoin ETF in the fall of 2021 and reapplied for a spot BTC exchange-traded fund (ETF) in partnership with Galaxy Digital this June following BlackRock's spot BTC ETF filing.

According to web archiver Wayback Machine, Invesco and Galaxy's spot Bitcoin ETF ticker, BTCO, was added to the DTCC list sometime in the last six days as there was no record or listing under its ticker on Oct. 25.

The DTCC has already clarified that adding a ticker to the list of products on its website does not guarantee approval from the U.S. Securities and Exchange Commission (SEC) for the application.

DTCC typically adds securities to the National Securities Clearing Corporation's (NSCC) eligibility file to prepare for the potential launch of a new exchange-traded fund to the market.

"Appearing on the list is not indicative of an outcome for any outstanding regulatory or other approval processes," a DTCC spokesperson earlier clarified.

The DTCC serves a crucial role in the U.S. ETF market. A spot Bitcoin ETF application added to its list simply means that an intermediary bank has already sent a request to put a designation for the particular ETF.

Bitcoin, the world's largest crypto asset by market capitalization, has lived up to the "Uptober" narrative of Twitter users. The king of crypto closed the month of October by maintaining its value above the $34,000 threshold.

But unlike BTC's seismic surge following the news about BlackRock's spot Bitcoin ETF ticker appearing on the DTCC website, Invesco and Galaxy's listing did not push its value to new highs.

BTC was trading in the green zone at $34,459.70 as of 6:06 a.m. ET on Wednesday, with a 24-hour trading volume down by 16.64% at $14,079,128,9839. It represents a meager 0.26% increase in the last 24 hours and a 1.0% gain over the past seven days.

According to data from CoinMarketCap, Bitcoin's total circulating supply stands at 19,528,018 BTC, with its value up by 0.22% at a $673,010,450,351 market cap.