BlackRock’s Bitcoin ETF Listed on DTCC, Signaling Imminent Approval
BlackRock’s spot Bitcoin exchange-traded fund (ETF) has been listed on the Depository Trust & Clearing Corporation (DTCC), a significant step towards regulatory approval. Bloomberg Intelligence analyst Eric Balchunas tweeted that this move indicates that approval is certain or imminent. The iShares Bitcoin Trust is the first ETF to be featured on the DTCC, which further reinforces BlackRock’s confidence in its imminent approval.
The iShares Bitcoin Trust has been listed on the DTCC (Depository Trust & Clearing Corporation, which clears NASDAQ trades). And the ticker will be $IBTC. Again all part of the process of bringing ETF to market.. h/t @martypartymusic pic.twitter.com/8PQP3h2yW0
— Eric Balchunas (@EricBalchunas) October 23, 2023
Balchunas also speculated that BlackRock may have already received the Securities and Exchange Commission’s (SEC) approval or is preparing for it. The SEC has until January 10 to make a final decision on BlackRock’s ETF application. If approved, it could pave the way for other spot crypto ETFs currently under SEC review, including those from Grayscale Investments, Fidelity, and WisdomTree.
While the SEC has not yet approved a spot Bitcoin or Ether application, market optimism for potential ETF approvals has increased. The listing of BlackRock’s iShares Bitcoin Trust on DTCC has driven a 13% increase in Bitcoin’s price over the past 24 hours, reaching its highest level in 18 months.
Hot Take: Markets Optimistic About Spot Bitcoin ETF Approvals
The appearance of BlackRock’s iShares Bitcoin Trust on the DTCC listing further fueled market optimism for potential ETF approvals, driving a 13% increase in Bitcoin’s price over the past 24 hours to the highest level in 18 months.
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