BlackRock’s iShares Bitcoin ETF mysteriously disappears — then reappears — on the DTCC site

BlackRock's spot Bitcoin (BTC) exchange-traded fund (ETF) IBTC has reappeared on the Depository Trust and Clearing Corporation (DTCC) website after disappearing for a few hours.

Bitcoin price surged to a new annual high following a surprise announcement on its website by IBTC on October 23 as markets signaled an imminent ETF approval.

When the ticker quietly disappeared from the site a few hours later, the price of Bitcoin fell by about 3%, indicating that much of the trading activity was hinged on watching ETF-related developments.

Senior Bloomberg ETF analyst Eric Balchunas pointed out that the drama surrounding the IBTC listing was responsible for the short-term crash of DTCC's website.

DTCC website seems to be down pic.twitter.com/UyrrfAl2Eu

— Eric Balchunas (@EricBalchunas) October 24, 2023

DTCC doesn't see this level of focus, as Balchunas explains – “which speaks to the uniqueness and strength of this whole saga.”

Related: BlackRock's Spot Bitcoin ETF Now Listed on Nasdaq Trade Clearinghouse – Bloomberg Analyst

When IBTC was relisted, an X (Twitter) user noted that the previous listing had a “Y” under the “Create/Redemption” column, while the new listing had an “N”.

One notable change in the DTCC iShares Bitcoin Trust (IBTC) listing I see here. The first list (on the right) had a “Y” under Create/Take. It has an “N”. @EricBalchunas What does @JSeyff mean? pic.twitter.com/Y89rK2TqlI

— Joe Light (@joelight) October 24, 2023

Bloomberg ETF analyst James Seifert responded to the inquiry by saying he believes BlackRock is “getting everything ready to launch if and when they get SEC approval.”

“‘N' means it's not open to creating a ransom because it hasn't been released yet,” Seifert added.

A Reuters report on October 25 stated that the IBTC listing was added to the DTCC site in August, but was only widely seen a few days ago.

A DTCC spokesperson said it is routine to add securities to the NSCC's security eligibility register “in preparation for the launch of a new ETF into the market”.

The spokesperson added: “Being on the list does not indicate the outcome of any advanced regulatory or other approval process.”

Following IBTC's resurgence, Bitcoin remained stable, rising 0.15% in the last hour, according to CoinMarketCap data.

Bitcoin is trading at $33,940, up 19.1% over the past week.

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