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BlackRock’s Bitcoin ETF Gains Visibility as IBTC Ticker Surfaces on DTCC Website

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“BlackRock’s bold move into the cryptocurrency market is further solidified as its spot bitcoin ETF, IBTC, gains visibility on the prestigious DTCC website, signaling a potential game-changer for both traditional investors and the crypto industry.”

BlackRock’s highly anticipated spot bitcoin ETF, the iShares Bitcoin Trust, has made an appearance on a list maintained by the Depository Trust and Clearing Corporation (DTCC), according to Nasdaq. The DTCC provides post-trade clearance, settlement, custody, and information services. Although the ETF is still awaiting approval from the Securities and Exchange Commission, the DTCC listing is seen as a positive sign. The BlackRock fund’s ticker on the DTCC list is IBTC.

Bloomberg senior ETF analyst Eric Balchunas commented on the development, stating that it is notable for BlackRock to be leading the charge on these logistics just prior to launch. He also mentioned that the approval for the ETF is likely certain or imminent. Balchunas further noted that the ticker symbol IBTC may not be the most exciting, but it fits BlackRock’s brand.

Spokespersons for DTCC and BlackRock have not yet responded to requests for comment.

In other news, the price of Bitcoin has surged to its highest level in over a year. BlackRock’s iShares Bitcoin Trust is among the approximately 12 spot bitcoin ETFs currently awaiting approval by the SEC. Other asset managers, including Grayscale Investments, Fidelity, and WisdomTree, have also filed applications for similar funds. However, the SEC recently delayed all pending applications, adding at least another month to the ongoing review process.

The excitement surrounding the potential approval of these ETFs has contributed to a surge in Bitcoin’s price. The cryptocurrency has risen 10.8% in the past 24 hours and 25.3% in the past month. Bitcoin briefly reached $34,332 on Monday, its highest level in over a year. At the time of writing, it was trading at $33,245.

Please note that this article is for informational purposes only and should not be considered as legal, tax, investment, financial, or other advice.

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