The iShares Bitcoin Trust, a proposed spot Bitcoin ETF by BlackRock, has made an appearance on the Depository Trust and Clearing Corporation’s list, carrying the ticker symbol IBTC.
🔥Reach more than 5 000 000 real investors via Twitter influencer marketing! 🔥
iShares Bitcoin Trust on DTCC
According to a recent report, Nasdaq said that the DTCC offers post-trade clearance, settlement, custody, and information services.
Bloomberg Analyst Shares Opinion
Eric Balchunas, Bloomberg’s senior ETF analyst, shared his thoughts in a thread on X, highlighting that it’s the first spot ETF listed on DTCC, with none of the others currently included. He noted: “Def notable, BlackRock is leading charge on these logistics (seeding, ticker, dtcc) that tend to happen just prior to launch. Hard not to view this as them getting signal that approval is certain/imminent.”
He stated: “$IBTC is def a zzzzz ticker considering the options, but it fits BLK brand (they more straight up the middle),” he added: “Arguably better than something like $HODL if goal is to make it into client accounts of rich boomers who use wealth managers.”
iShares Bitcoin ETF Awaiting SEC Approval
Notably, among the numerous spot Bitcoin ETFs currently in the approval queue, BlackRock’s iShares Bitcoin Trust is also the one awaiting for the SEC’s ruling after the delay decision last month. The regulator has turned down several spot Bitcoin ETF applications, including Grayscale’s.
In early 2022, the SEC declined Fidelity‘s Wise Origin Bitcoin Trust Spot ETF application, and in the previous October, WisdomTree’s spot Bitcoin ETF proposal was also rejected, with the SEC expressing concerns about insufficient fraud and investor protections.
Optimism in the Crypto Space
BlackRock, the highly regarded and influential financial institution, has shown a strong interest in the cryptocurrency ecosystem by applying for a Bitcoin ETF in July in partnership with American cryptocurrency exchange Coinbase. This move raised optimism for the entire digital asset market. BlackRock’s submission of a Bitcoin ETF application has infused a sense of optimism into the ecosystem.
Additionally, Grayscale’s recent legal triumph against the SEC in their dispute over the rejection of a spot Bitcoin ETF application set an important precedent for numerous other ETF applications.
🔥Reach more than 5 000 000 real investors via Twitter influencer marketing! 🔥
