The DTCC issued an important notice announcing 100% haircut for ETFs and investment vehicles that include Bitcoin. No collateral value meaning the financial services company will provide no loans against investments in ETFs, Bitcoin. Crypto expert says Bitcoin could face selling pressure if small banks facilitating investments in ETFs drop their holdings. The Depository Trust and Clearing Corporation is a US financial services company that provides clearing and settlement services.
The system serves as a tool that meets market participants' liquidity requirements. ETFs can still find their role in lending and as a collateral in brokerage activities subject to the risk tolerance of individual brokers. Crypto analyst @HodlMagoo says that there might be a liquidity issue “around the corner.
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