Fidelity Bitcoin spot ETF included in DTCC, Reuters: Key details secured in negotiations with SEC
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Table of Contents
Fidelity Bitcoin Spot ETF Included in DTCC
According to the official website, the Fidelity Bitcoin Spot ETF has been included in the active ETF and pre-issuance list of the Depository Trust & Clearing Corporation (DTCC) in the United States, with the trading code FBTC.
Previous reports emphasized that being listed in the qualification documents by DTCC does not imply obtaining any regulatory approval.
The Chaos of the BlackRock Bitcoin ETF Code, DTCC: IBTC Code Listed in August
Bloomberg ETF analyst Eric Balchunas indicated that the next key point to watch is the fees of each ETF, but as major issuers are reluctant to disclose, fees may only be announced at the last minute after issuance.
Fidelity has revealed their ticker, $FBTC, another boring-on-purpose choice aimed at the Boomerati. Almost all the tickers now set. Next big reveal to watch: the fees (which will prob come out last minute bf launch as issuers reluctant to show their hand) https://t.co/eDA0RQUkIF
— Eric Balchunas (@EricBalchunas) December 8, 2023
Reuters: Negotiations with SEC Have Advanced Key Details
Reuters reported that industry executives indicated discussions between the U.S. Securities and Exchange Commission (SEC) and ETF issuers have progressed to key technical details, suggesting the agency may soon approve these products.
Insiders stated that since the discussions are conducted privately, they requested anonymity.
SEC must make a final decision on the application from Ark Investment Management LLC by January 10, marking the earliest approval SEC will face. Sources added that these further discussions indicate SEC may approve Ark's application early next year and potentially approve some of the other 12 Bitcoin spot ETF applications.