The price of Bitcoin (BTC) fell when the BlackRock spot ETF ticker was removed
The Depository Trust and Clearing Corporation (DTCC) removed BlackRock's bitcoin ETF, iBTC, from its ETF list shortly after it was added on Monday.
In response, the price of Bitcoin fell by 3%, falling from $34,527 to $33,432 in 30 minutes after the removal was announced.
The fall appears to have triggered $37 million in long-term liquidity in the crypto market over the past hour, CoinGlass reports. Bloomberg analyst James Seifert speculated that the Securities and Exchange Commission (SEC) could influence the decision. “I guess the SEC made a call to BlackRock,” he tweeted on Tuesday. Listing on the DTCC is standard practice for ETFs, typically before a fund begins trading. BlackRock's earlier mention of an ETF on its site sparked excitement about the upcoming spot Bitcoin ETF approval, sending bitcoin's price up to $35,000 a year. The SEC has officially received an order to review Greyscale's Bitcoin ETF application, raising hopes for approval. The SEC's public hearing for BlackRock and other Bitcoin ETF applicants will continue until Nov. 8, according to attorney Joe Carlassare.
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