BlackRock’s iShares Bitcoin Trust Not Listed on DTCC
The highly anticipated spot bitcoin ETF from BlackRock, known as the iShares Bitcoin Trust, is no longer listed on the Depository Trust and Clearing Corporation (DTCC). The DTCC provides post-trade clearance, settlement, custody, and information services. This development was noticed by the market on Monday when the fund appeared on the list with ticker IBTC. Its presence on the list led to a rally in the price of bitcoin, reaching its highest level since May 2022 at $35,000.
Bitcoin’s Price Dips
Following the news that the iShares Bitcoin Trust was no longer listed on the DTCC, the price of bitcoin dipped. At 12:03 p.m. ET, it was trading at $33,679 according to CoinGecko. The DTCC has not provided any comment regarding this change, and BlackRock has declined to comment as well.
Subscribe to our Social Media for Exclusive Crypto News and Insights 24/7!
SEC Approval Still Pending
It is important to note that the Securities and Exchange Commission (SEC) has not yet approved a spot bitcoin ETF. This means that investors will have to wait for further developments in this area.
Hot Take: Uncertainty Surrounds BlackRock’s Bitcoin ETF
The removal of BlackRock’s iShares Bitcoin Trust from the DTCC’s list raises questions about the future of a spot bitcoin ETF. With no official statement from either BlackRock or the DTCC, it is unclear why the fund is no longer listed. This uncertainty has had an immediate impact on bitcoin’s price, causing a dip after reaching new highs. It remains to be seen how this situation will unfold and if it will affect the prospects of a spot bitcoin ETF gaining regulatory approval in the near future.
