DTCC withdraws collateral, loan support for crypto
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Posted On: 04/28/2024 11:15:59 AM
DTCC withdraws collateral, loan support for crypto ETFs
https://crypto.news/dtcc-withdraws-collateral...ypto-etfs/
Quote:
Financial services firm Depository Trust and Clearing Corporation (DTCC) has announced it will not allocate any collateral or offer loans for ETFs with exposure to Bitcoin or other cryptocurrencies.
As of April 30, during its annual line-of-credit facility renewal, the DTCC will adjust the collateral values for specific securities, potentially impacting their position values in the collateral monitor.
The statement released on April 26 specified that ETFs and similar investment vehicles with Bitcoin or other cryptocurrencies as underlying assets would see their collateral value reduced to zero.
However, crypto enthusiast K.O. Kryptowaluty, in a post on X, noted that the change pertains only to inter-entity settlements within the line of credit system.
https://crypto.news/dtcc-withdraws-collateral...ypto-etfs/
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