Key Points:
- IBTC listing marks first spot Bitcoin ETF on DTCC rolls.
- Seen as sign launch is nearing given timing with SEC review.
- Bitcoin price surged on news, topping $34K.
Fuels Speculation Approval is Imminent
BlackRock’s anticipated spot Bitcoin ETF has been added to the Depository Trust & Clearing Corporation’s (DTCC) listings with the proposed ticker IBTC.
While the SEC has yet to approve BlackRock’s filing along with other spot ETF applications, the DTCC inclusion signals potential launch progress.
DTCC provides key post-trade services including clearing and settlement. The IBTC ticker represents the first potential spot Bitcoin ETF on its roster.
Analysts See Sign of Approval
Industry analysts view DTCC registration as indication that regulatory approval may be near for BlackRock. Pre-launch actions like securing a ticker symbol typically occur in the lead up to launch.
Some also noted the IBTC ticker fits BlackRock’s mainstream brand, unlike more crypto-centric options. The goal is appealing across client bases interested in Bitcoin exposure.
SEC Delayed Spot ETF Approvals
BlackRock’s iShares Bitcoin Trust is one of around 12 spot Bitcoin ETF filings awaiting SEC greenlight. Other big asset managers like Fidelity and Grayscale have also applied.
Last month, the SEC delayed all applications by at least an additional 45 days for further review. The DTCC listing provides new hope that an approval date may now be approaching.
Bitcoin Price Jumps
The crypto market reacted strongly to the DTCC registration news. Bitcoin surged past $34,000, reaching its highest level in over a year.
Traders are betting a spot ETF approval could significantly expand institutional and retail access, boosting demand.
While SEC approval is still uncertain, BlackRock’s DTCC progress shows meaningful steps continue behind the scenes. The groundwork is being laid for a long-awaited spot Bitcoin ETF.
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