Securities like BTCO are often added to the National Securities Clearing Corporation (NSCC) security eligibility file in anticipation of a potential market launch. However, the DTCC clarified that such an addition does not imply an endorsement of the product or guarantee future approval. This step does not provide any assurances regarding the outcomes of regulatory approval processes.
Alongside Invesco and Galaxy, BlackRock (NYSE:BLK) has also submitted an application for a spot Bitcoin ETF, which is currently listed on the DTCC register. This listing signifies an intermediary bank’s intention to acquire a DTCC designation, contingent upon approval from the Securities and Exchange Commission (SEC).
Due to heightened attention, BlackRock’s application was briefly delisted for further scrutiny but has since been reinstated. However, it should be noted that being on the DTCC list does not ensure successful navigation through necessary regulatory or other approval processes.
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Source: Cryptocurrency - investing.com
