Bitwise spot Bitcoin exchange-traded fund (ETF) has now appeared on the active and pre-launch list of Depository Trust & Clearing Corporation (DTCC). The Bitwise spot Bitcoin ETF is listed under the ticker — BITB. This is a significant advancement for the company in its pursuit of obtaining approval for the spot Bitcoin ETF first in the United States.

Bitwise Spot Bitcoin ETF Listed on DTCC

According to the DTCC data, Bitwise’s spot Bitcoin ETF was listed on the Depository Trust & Clearing Corporation (DTCC) website. The Wise Origin Bitcoin FD SHS is listed under the ticker BITB. It indicates that the U.S. SEC’s approval of a spot Bitcoin ETF is imminent as constructive discussions continue.

The recent listing of many spot Bitcoin ETFs on DTCC raised bullish sentiment on an approval by the U.S. SEC. BlackRock, Fidelity, and Invesco Galaxy’s spot Bitcoin ETFs appeared on the list, but experts pointed out the listing doesn’t represent a regulatory approval.

Bitwise Asset Management’s Chief Investment Officer Matt Hougan said the potential introduction of a spot Bitcoin ETF in the U.S. stands out as a crucial factor. He predicted Bitcoin price to hit a new all-time high soon as people hedge against inflation.

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Bitcoin Rise In Anticipation of Bitcoin ETF Approval

Matrixport research predicted a bullish rally to $45,000 by the end of the year when BTC price was trading near $35K. The firm also predicted BTC price hitting $60,000 before Bitcoin halving.

The spot Bitcoin ETF hype amid with bull market pushing price upwards. The dovish Fed confirms a bullish outlook for the market. Nonetheless, traders must be cautious in the face of unforeseen events.

BTC price jumps 5% in the last 24 hours, with the price currently trading at $43,076. The 24-hour low and high are $40,813. and $43,429, respectively. Furthermore, the sentiment to hit $50,000 amid the Santa Claus rally is significantly higher.

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.