VanEck Announces Massive $72 Million Bitcoin ETF Seeding As Two Tickers Appear On DTCC Website
09 Janeiro 2024 - 7:00PM
NEWSBTC
As the US SEC prepares to make its final decision regarding Spot
Bitcoin ETF approvals, the Depository Trust and Clearing
Corporation (DTCC) has officially listed the Spot ETFs tickers from
investment management firm, VanEck. VanEck’s Spot ETF Ticker Listed
on DTCC American investment management firm VanEck’s Spot Bitcoin
ETF has recently appeared on the active and pre-launch list of the
DTCC. VanEck’s ETF can be identified by the ticker ‘HODL’ on the
DTCC’s official platform. Related Reading: Rocket Carrying
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Struggling? This move positions VanEck as a key player in the
evolving landscape of Spot ETF investments. Additionally, the
listing is seen as a crucial step towards integrating Spot Bitcoin
ETFs into the mainstream financial sector if the United States
Securities and Exchange Commission (SEC) decides to approve Spot
Bitcoin ETFs. Alongside VanEck, WisdomTree’s Spot Bitcoin ETF
ticker, ‘BTCW’ has also been officially listed on the DTCC website.
The investment management firm previously submitted its Spot BTC
ETF application to the US SEC in June 2023. However, the regulator
has consistently delayed approval of WisdomTree’s Spot Bitcoin ETF
application. The US SEC has also delayed 13 Spot Bitcoin ETF
applications from prominent companies such as BlackRock, ARK
Invest, Grayscale, and others. The regulatory agency faces a
deadline of January 10, to either accept or reject these Spot
Bitcoin ETF applications. Although there is a possibility for
the SEC to decline Spot BTC ETFs several experts, including
Bloomberg analysts, James Seyffart and Eric Balchunas have revealed
a 90% chance of the regulator approving Spot BTC ETFs in
January. BTC flash dip could be a sign of what to come |
Source: BTCUSD On Tradingview.com VanEck Reveals $72 Million
Bitcoin ETF Seed Fund On Monday, January 8, VanEck submitted an
amended Spot Bitcoin ETF S-1 filing to the SEC. In its filing,
VanEck disclosed that the financial company had purchased
1,640.92489329 BTC worth $72.5 million on January 5, to support its
Spot ETF. The substantial seeding will provide a solid foundation
for VanEck’s Spot Bitcoin ETF, potentially paving the way for
increased participation by institutional investors. Related
Reading: Shiba Inu Breakout To $0.001? Rumored 9.25 Trillion SHIB
Token Burn Could Be The Catalyst In addition to VanEck’s Seed
Creation Baskets, major asset management companies in the Spot
Bitcoin ETF race like BlackRock, Bitwise, and Fidelity have
announced their various seed funds. Bitwise revealed a $200 million
seed fund made by Pantera Capital to support its Spot BTC ETF. The
asset management company has also put forward $500,000 to fund its
proposed Spot BTC ETF. Meanwhile, BlackRock and Fidelity have
announced plans to seed their Spot Bitcoin ETFs with $10 million
and $20 million respectively. BlackRock previously submitted an
amended S-1 filing to the SEC in December, revealing a 227.9 BTC
purchase to seed its Spot ETF by January 3. Featured image
from Swissborg, chart from Tradingview.com
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