BlackRock’s Spot Bitcoin ETF Now Listed on Nasdaq Trade Clearinghouse – Bloomberg Analyst

The iShares spot Bitcoin exchange-traded (ETF) offered by investment firm BlackRock has been listed on the Depository Trust & Clearing Corporation (DTCC), indicating approval by the United States Securities and Exchange Commission.

In an Oct. 23 X (formerly Twitter) thread, Bloomberg ETF analyst Eric Balchunas said the DTCC listing is “all part of the process” of bringing a crypto ETF to market. The iShares spot Bitcoin (BTC) ETF has a possible listing on the Nasdaq stock exchange, with the symbol IBTC, which will be used to list and trade the investment vehicle in June.

“this is [the] The first position ETF listed on the DTCC, none of them are out there (yet),” said Balchunas. “Def is leading on these logistics (seed, ticker, DTCC) that happen before the famous Blackrock launch. It's hard not to see this when you get a signal that approval is certain/close.

The iShares Bitcoin Trust is listed on the DTCC (Depository Trust & Clearing Corporation, which clears NASDAQ trades). And the token will be $IBTC. All part of the process of bringing the ETF back to market.. h/t @martypartymusic pic.twitter.com/8PQP3h2yW0

— Eric Balchunas (@EricBalchunas) October 23, 2023

Balchunas speculated that BlackRock may have received the green light from the SEC to list the ETF, or that it was “presumably setting everything up.” Based on the filing date of BlackRock's application, the SEC has until January 10, 2024 to make a final decision on whether to approve or reject the ETF.

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If BlackRock's application is approved, it could lead to floodgates for several positions currently under review by the SEC, including ARK Investments, Fidelity and Valkyrie. To date, the SEC has not approved a spot Bitcoin or Ether (ETH) application to list on a US exchange, but it will begin allowing investment vehicles tied to Bitcoin futures in October 2021.

BTCC's listing comes after the US Court of Appeals issued an order enforcing an August 29 ruling asking the SEC to review a BTC ETF application from Greyscale Investments. Grayscale filed a registration statement with the SEC on October 19 to list the shares of its bitcoin trust Arca on the New York Stock Exchange.

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Update (October 24 at 3:25 PM UTC): BlackRock's iShares spot bitcoin trading fund has reportedly been delisted from DTCC.

UPDATE (Oct 24 at 5:15 PM UTC): The DTCC website appears to be down.