Bitcoin Surges Following Latest Update: BlackRock’s iShares ETF Officially Listed on DTCC

By Leo Nomist Oct 24, 202359Views

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The approval of BlackRock’s iShares Bitcoin spot ETF is nearing as it has been listed with the Depository Trust & Clearing Corporation (DTCC), indicating that U.S. regulators may soon allow trading. This listing is a formal process that precedes an eventual listing on the Nasdaq stock exchange. The news of the listing caused Bitcoin to surge to $35,000, increasing by 5.5% in just 15 minutes. The approval from the Securities and Exchange Commission (SEC) is now anticipated, not only for BlackRock but also for other hedge funds like Fidelity, VanEck, Ark, and WisdomTree that have applied for ETFs. The SEC has until January 10, 2024, to make a final decision. The recent news further confirms that Nasdaq pricing is imminent. Additionally, a court ruling in favor of Grayscale’s spot Bitcoin ETF application puts pressure on SEC Chair Gary Gensler. The introduction of a regulated spot financial product at a U.S. exchange could bring significant investment into Bitcoin’s economy.

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Leo Nomist

Leo Nomist emerges as a maestro harmonizing the roles of crypto analyst, tenacious researcher, and editorial virtuoso, creating an unparalleled symphony of insight. Amidst the intricate world of digital currencies, Leo's perspectives resonate like finely tuned chords, capturing the attention of curious minds from diverse horizons. His talent for deciphering complex threads of crypto intricacies blends seamlessly with his editorial finesse, translating intricacy into a captivating composition of understanding. Guiding both intrepid adventurers and inquisitive novices, Leo's insights serve as a compass for well-informed decision-making amidst the ever-shifting tides of cryptocurrencies. With the artistry of a linguistic virtuoso, they craft narratives that enrich the evolving tapestry of the crypto landscape.