The ticker for Invesco and Galaxy's spot Bitcoin (BTC) exchange-traded fund (ETF)

BTCO — has appeared on the Depository Trust and Clearing Corporation’s (DTCC) website, marking a step forward in the application process for the two asset managers.

A DTCC spokesperson said it is standard practice for the DTCC to add securities to the NSCC security eligibility file “in preparation for the launch of a new ETF to the market.”

“Appearing on the list is not indicative of an outcome for any outstanding regulatory or other approval processes,” the spokesperson added.