BlackRock’s iShares Bitcoin Trust Appears on DTCC Website
BlackRock, the world’s largest asset manager with over $10 trillion in assets under management, is preparing to launch the first spot Bitcoin exchange-traded fund (ETF) in the US markets. The iShares Bitcoin Trust, which is highly anticipated, has made an appearance on the list maintained by the Depository Trust and Clearing Corporation (DTCC). This indicates that a Bitcoin spot ETF could be on the horizon.
BlackRock’s Proactive Approach
The decision to list the iShares Bitcoin Trust on the DTCC website shows BlackRock’s proactive approach to logistics and preparation for the launch. Eric Balchunas, an ETF analyst at Bloomberg, noted that this is the first time a spot Bitcoin ETF has been listed on the DTCC website, setting it apart from other potential ETFs. Balchunas suggested that BlackRock may have received a signal of likely approval for the ETF or they were preparing in anticipation of approval.
Bitcoin Price Surge
The price of Bitcoin has surged amid speculation about the approval of a Bitcoin ETF. Over the past 24 hours, Bitcoin has seen a nearly 11% increase and has grown by just over 25% in the past month. It reached a high of $34,332, its highest level in over a year. Currently, Bitcoin is trading at $34,192.
Approval Delayed by SEC
BlackRock’s iShares Bitcoin Trust is one of 12 spot Bitcoin ETFs awaiting approval from the US Securities and Exchange Commission (SEC). Last month, the regulator delayed all pending applications, extending the ongoing review process by another month. However, it is important to note that this delay does not indicate any conclusions reached by the SEC regarding the issues involved.
Hot Take: BlackRock’s iShares Bitcoin Trust Signals Impending Bitcoin ETF Approval
The appearance of BlackRock’s iShares Bitcoin Trust on the DTCC website suggests that a Bitcoin spot ETF could be just around the corner. This move by the world’s largest asset manager indicates their proactive approach and preparation for the launch. As speculation around the approval of a Bitcoin ETF grows, the price of Bitcoin has surged, reaching its highest level in over a year. While the SEC has delayed approval for all pending applications, the listing of BlackRock’s iShares Bitcoin Trust on the DTCC website is a significant development in the path towards a Bitcoin spot ETF.
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