BlackRock’s IBTC ETF Appears on DTCC Website, Creating Price Volatility
The United States’ spot ETF situation continues to be chaotic as BlackRock’s IBTC ETF mysteriously appears and disappears on the Depository Trust and Clearing Corporation (DTCC) website. These actions by the DTCC typically precede a product launch, causing significant fluctuations in Bitcoin’s price.
Bitcoin Price Surge Due to IBTC Listing
The sudden appearance of IBTC on the DTCC website yesterday caused Bitcoin prices to surge briefly above $35,000 before settling around $33,000. This indicates that recent trading activity is closely tied to monitoring ETF-related developments.
Delayed Attention to IBTC Listing
A Reuters report revealed that IBTC was added to the DTCC website in August but only gained widespread attention recently. However, a spokesperson for DTCC clarified that this is a standard procedure to prepare for the introduction of a new ETF and does not indicate regulatory approval.
BlackRock Preparing for Potential Launch
Experts believe that BlackRock is preparing for a potential launch of the IBTC ETF upon receiving SEC approval. The “N” designation next to the listing indicates that it is not yet live and open for create redeem.
Hot Take: BlackRock’s IBTC ETF Listing Creates Price Volatility
The appearance and subsequent disappearance of BlackRock’s IBTC ETF on the DTCC website have caused significant price volatility in the Bitcoin market. Traders closely monitor these developments as they anticipate the launch of new ETFs. While the listing does not guarantee regulatory approval, it suggests that BlackRock is making preparations for a potential launch. As the crypto community eagerly awaits further updates, the market remains sensitive to any news related to ETFs.
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