BlackRock’s iShares Bitcoin Trust Listed on DTCC, Progress Made for BTC ETF
BlackRock’s iShares Bitcoin Trust has been listed on the Depository Trust and Clearing Corporation (DTCC), marking progress in the quest for a spot Bitcoin ETF in the US market. The DTCC is the clearing house for NASDAQ trading. The listing confirms that BlackRock’s BTC fund will trade under the ticker IBTC and is the first spot Bitcoin ETF out of a dozen applications to appear on DTCC’s list. In an amendment to its filing with the SEC, BlackRock disclosed the seeding schedule for October 2023, referring to the initial funding of an ETF for day-one trading. The amount is typically moderate and does not indicate a large Bitcoin purchase by BlackRock.
SEC Continues Application Assessment as BTC Prices React to ETF News
The US Securities and Exchange Commission (SEC) and Chair Gary Gensler remain involved in ETF discussions as they assess applications. Earlier reports from crypto.news falsely claimed an ETF approval announcement, causing BTC prices to briefly surge above $30,000 before retracing. However, TradingView data shows that BTC has regained its price position above $31,000.
Hot Take: BlackRock’s Listing on DTCC Boosts Hope for BTC ETF Approval
The listing of BlackRock’s iShares Bitcoin Trust on the DTCC is a significant development in the pursuit of a Bitcoin ETF in the US market. It highlights progress made and raises hopes for future approvals. Although this particular listing does not indicate a substantial Bitcoin purchase by BlackRock, it signifies their commitment to launching a BTC fund. Additionally, with SEC Chair Gary Gensler continuing to assess ETF applications, there is ongoing anticipation regarding potential approvals. Despite false reports causing temporary price fluctuations, BTC has maintained its position above $31,000, demonstrating resilience in the face of market speculation.
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