Amid the excitement surrounding the possible approval, the world’s largest cryptocurrency in terms of market capitalization is experiencing a notable surge.
The regulator last month delayed all pending applications for these funds, extending the ongoing review process for at least another additional month.
The highly anticipated ETF BlackRock Bitcoin, known as the iShares Bitcoin Trust, makes its appearance on the list of the Depository Trust and Clearing Corporation (DTCC), an entity that, according to Nasdaqprovides a range of services ranging from compensation and liquidation to custody and information after operations.
Although it is still awaiting approval by the Securities and Exchange Commission (SEC), like other proposed Bitcoin funds, the DTCC lists the BlackRock fund’s ticker symbol under the IBTC name.
Bloomberg Senior ETF Analyst Eric Balchunas highlights this milestone in a thread on X (formerly Twitter), noting: “This is the first Bitcoin ETF to be listed by the DTCC; none of the other funds have reached this point. Without a doubt, BlackRock leads in terms of logistics, including initial financing, ticker symbol assignment, and presence on the DTCC, which generally indicates that the launch is imminent. “It’s hard not to see this as a sign that approval is certain and imminent.”
Balchunas also comments on the ticker symbol, IBTC, calling it “boring” compared to other options. However, he mentions that it aligns with BlackRock’s brand, which tends to be more direct. “Arguably, it’s a better choice than something like $HODL if the goal is to attract wealthy baby boomer client accounts who use financial advisors.”
Bitcoin: awaiting the SEC’s decision
Until nowneither representatives of the DTCC nor those of BlackRock have responded to requests for comment made by The Block.
BlackRock’s iShares Bitcoin Trust is among approximately 12 Bitcoin ETFs awaiting SEC approval. In addition to BlackRock, other asset management firms, including Grayscale Investments, Fidelity and WisdomTree, have filed similar requests.
The regulator last month delayed all pending applications for these funds, extending the ongoing review process for at least another additional month.
Amid the excitement surrounding the potential approval, the world’s largest cryptocurrency in terms of market capitalization is experiencing a notable surge. In the last 24 hours, its price increases by 10.8%, and in the last month, it grows by 25.3%. Bitcoin’s price even briefly reached $34,332 on Monday, marking its highest level in more than a year, according to data from CoinGecko.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
