Technology

BlackRock’s Bitcoin ETF Mysteriously Vanishes from DTCC List, Bitcoin Price Reacts

BlackRock’s iShares Bitcoin Trust, a spot bitcoin ETF that had stirred anticipation across markets, has vanished from the list maintained by the Depository Trust and Clearing Corporation (DTCC). This unexpected removal of BlackRock’s spot Bitcoin ETF ticker comes just a day after its appearance led to heightened expectations and a subsequent Bitcoin price surge.

Key Points:

  1. BlackRock’s spot bitcoin ETF, which was previously listed under the ticker IBTC, no longer features on the DTCC’s list. The initial listing had kindled market optimism, triggering a Bitcoin rally to $35,000, its highest value since May 2022.
  2. Following the removal news, Bitcoin’s price experienced a dip, standing at $33,679 as of 12:03 p.m. ET, representing a decline from its recent rally.
  3. Both the DTCC and BlackRock remained tight-lipped about the development. While the DTCC has not responded to inquiries, BlackRock chose to decline to comment. Notably, the Securities and Exchange Commission (SEC) has not yet approved any spot bitcoin ETFs.

The initial listing of BlackRock’s ETF on the DTCC’s platform had been interpreted by many as a sign of imminent approval for a spot Bitcoin ETF. With its sudden disappearance, questions arise about potential changes to the timeline for the anticipated approval. While the odds for Bitcoin spot approval remain strong, the unfolding events underscore the unpredictability of the cryptocurrency market.

Experts are now grappling with key questions regarding Bitcoin trading dynamics: Will traders “sell the fact” when BTC spot ETFs get the green light, or will the market only react when they commence trading? The events surrounding BlackRock’s ETF listing and delisting highlight the intricacies and uncertainties in the rapidly evolving crypto space.

Related posts
Technology

ZKSync (ZK) Price Prediction on Listing Date, Valuation: Can $ZK reach 1USD?

On June 17, 2024, ZKSYNC will be listed on Binance and other major cryptocurrency exchanges.
Read more
Technology

NIM Network Announces NIM token Airdrop for DYM stakers and Popular Gaming and NFT Communities

NIM is a highly-adoptable AI Gaming chain that is specifically designed for the development and…
Read more
Technology

ArbitrageScanner Event – Best Crypto & Web3 Side Event in Dubai, April 2024?: Review

Join the Exclusive Crypto Side Event in Dubai, 17-18 April! Organized by ArbitrageScanner.io – the…
Read more
Newsletter
Become a Trendsetter

Sign up for TheTechly’s Daily Digest and get the latest and trending technology updates.

[mc4wp_form id="729"]