Blackrock Bitcoin Trust has been removed from the key financial list

BlackRock's iShares Bitcoin Trust (IBTC) has been delisted from the Depository Trust & Clearing Corporation (DTCC) just one day after being listed.

This event has sent ripples through the crypto market, shedding light on the heavy thread on which the adoption of crypto-related financial instruments hangs.

BlackRock's iShares Bitcoin Trust has been removed from the DTCC list

BlackRock's IBTC listing on the DTCC has been greeted with enthusiasm and excitement in the crypto community. The listing strongly suggests that US federal regulators may be warming to the idea of ​​a spot bitcoin ETF, a sentiment echoed by several market experts.

DTCC, known for its post-trade licensing, settlement, custodial and information services, is recognized as a well-known heavyweight in the financial sector. This listing marks a major step toward connecting traditional finance. Thus, the price of Bitcoin reached $35,000 when the speculations were loaded.

Read more: How to buy Bitcoin (BTC) and everything you need to know

However, the euphoria was short-lived as the EBTC was apparently delisted from the DTCC list a day later.

The crypto market, no stranger to volatility, reacted with a mix of frustration and fear. Bitcoin price fell 5.45%, reaching a daily low of $33,240. Technical analyst Nebraska Goner warned that the selling pressure may accelerate and that Bitcoin may “revisit” the $32,700 to $33,000 support area.

This roller coaster highlights the regulatory uncertainty that continues to cloud the crypto market. The cancellation has fueled skepticism among conservative investors. Next, renew the debate on the readiness of the regulatory framework for crypto-based financial instruments.

While the exact impact on the market is still being seen, the incident has left a bitter row among traders. It shows nearly $80 million worth of transaction data to date.