On December 7, 2023, Fidelity's WIse Origin Trust, an exchange-traded fund (ETF) that invests in Bitcoin, was added to the Depository Trust and Clearing Corporation's (DTCC) list of new stocks under the ticker FBTC. This news comes after BlackRock's iShares Bitcoin Trust, another spot Bitcoin ETF was added to the DTCC in October.
SEC approval is still pending for both Bitcoin ETFs, but their inclusion in the DTCC is a critical step towards their launch.
Adding to the DTCC is standard procedure when an ETF provider prepares to launch a new fund.
In addition to Fidelity and BlackRock, more than a dozen asset managers are seeking SEC approval for a Spot ETF including Grayscale, VanEck and WisdomTree.
After the SEC has rejected BTC Spot ETFs for years, Bloomberg analyst James Seyffart suggests that the Commission could approve a series of Bitcoin ETFs as early as the beginning of 2024. He also predicts that the decision window will be between 5 and Jan. 10, per typical SEC procedures and timeframes.
The news of BlackRock's inclusion in the DTCC pushed the price of Bitcoin by 11% in just 24 hours, bringing it above $35k (while today we are between $42k and $44k).
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