BlackRock DTCC Listing: An Expert’s Perspective
Phil Bak, CEO of Armada ETFs, recently expressed his skepticism regarding the significance of BlackRock’s iShares Bitcoin ETF listing on DTCC. As an expert in ETF launches and product development, Bak stated that the DTCC listing holds no importance in terms of potential approval by the SEC. He emphasized that the DTCC is not an official listing venue and that SEC’s 19b4 approval is necessary for an ETF to be launched. This statement has sparked discussions within the crypto community about the possibility of Bitcoin ETFs becoming a reality.
DTCC Removes BlackRock Bitcoin ETF Ticker
Following rumors of spot Bitcoin ETF approval and the price pump in Bitcoin, DTCC removed BlackRock’s Bitcoin ETF ticker from its site. The reason for this change is unclear, but the ticker was later reinstated with a change in the Create/Redeem status. The positive sentiment surrounding Bitcoin ETFs has grown significantly due to these developments. However, it’s important to note that the price of BTC has slightly fallen and is currently trading at $34,551.
Hot Take: The Significance of DTCC Listing
The recent listing of BlackRock’s Bitcoin ETF on DTCC has caused excitement among crypto enthusiasts, raising hopes for the approval of spot BTC ETFs. However, it is crucial to consider expert opinions like Phil Bak’s, who believes that this listing holds no importance regarding SEC approval. While discussions and debates continue surrounding Bitcoin ETFs, it is essential to stay informed about official listing venues and regulatory requirements before drawing conclusions or making investment decisions.
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