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BlackRock’s Spot Bitcoin ETF Appears On Nasdaq Clearance Site, Bitcoin Soars

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BlackRock's iShares spot Bitcoin ETF listed on DTCC, signaling potential SEC approval
BlackRock's iShares spot Bitcoin ETF listed on DTCC, signaling potential SEC approval

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BlackRock’s spot Bitcoin exchange-traded fund (ETF) was listed on the Depository Trust & Clearing Corporation (DTCC), moving it a step closer to regulatory approval and sending Bitcoin into orbit. 

“Hard not to view this as them getting the signal that approval is certain/imminent,” tweeted Bloomberg Intelligence analysts Eric Balchunas. “Def notable BlackRock is leading charge on these logistics (seeding, ticker, DTCC) that tend to happen just prior to launch.”

BlackRock’s iShares Bitcoin Trust is the first ETF to feature on DTCC, which Balchunas said is a strong indicator of BlackRock’s confidence in the ETF’s imminent approval. 

The ETF analyst also speculated that BlackRock may already have received the Securities and Exchange Commission’s (SEC) green light or is preparing for it.

BlackRock’s application for the ETF, submitted in June, gives the SEC until January 10 to reach a final decision on its approval or denial. Should it gain approval, it could pave the way for a queue of other spot crypto ETFs currently under SEC review. 

Other asset managers with pending applications include Grayscale Investments, Fidelity, and WisdomTree. 

To date, the SEC has not approved a spot Bitcoin or Ether application. The watchdog recently delayed the review process for these funds, adding at least another month to the evaluation period.

Markets Optimistic About Spot Bitcoin ETF Approvals

The appearance of BlackRock’s iShares Bitcoin Trust on the DTCC listing further fueled market optimism for potential ETF approvald, driving a 13% increase in Bitcoin’s price over the past 24 hours, to the highest level in 18 months.

BTC Price
BTC Price (Source: inside bitcoins)

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