The reason is that the price of Bitcoin (BTC) exploded to 35 thousand dollars

After Grayscale's victory in court against the SEC – and the regulator's decision not to appeal the result – the impetus for Bitcoin ETFs has increased.

The SEC will change its tune

JPMorgan and Bloomberg Intelligence indicated that all signs point to the approval of a Bitcoin ETF by the end of January 2024. Meanwhile, SEC Chairman Gary Gensler confirmed that he and his team are looking at 8 to 10 different ETF proposals and are engaging with the companies. behind them.

This change of pace was confirmed by Cathy Woods and Mike Novogratz. Both investors have already proposed Bitcoin ETFs, and both reported increasing constructive dialogue with regulators following the grayscale court case.

These signals indicate approval – or rejection – of ETF proposals. However, an ETF has suddenly emerged on a stock market-linked corporation, which a Bloomberg analyst described as a key milestone in government approval.

iShares is listed on DTCC.

Bloomberg Senior ETF Analyst Eric Balchunas recently noted that BlackRock's iShares Bitcoin Trust was listed on the Depository Trust And Clearing Corporation's website with the ticker iBTC.

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

Working closely with governments around the world, the DTCC is the corporation responsible for clearing NASDAQ trades. Although this listing does not guarantee approval by US regulators, it shows that BlackRock has full confidence in the proposed fund.

Blackrock's Bitcoin ETF CUSIP has been spotted by financial lawyer Scott Johnson, along with an update to Blackrock's paperwork indicating that Blackrock has begun providing seed capital to the fund.

So two things caught my eye from the new iShares (Blackrock) S-1 update: – They've got a CUSIP for starters – They might want to cash in this month (which is earlier than I'd like. I thought, but maybe not) pic.twitter.com/lMDaKxiIbB

— Scott Johnson (@SGJohnsson) October 23, 2023

A CUSIP is an identification number assigned to equity, debt and other securities registered in the US and Canada and is used to distinguish securities from one another.

While Balchunas acknowledges Jonson's capture and warns readers to avoid reading too much into it.

“BlackRock[they]are revealing in their latest Bitcoin ETF update that they are seeding an ETF in October. Don't want to read too much into it, but it's new information that wasn't in the original filing, so it's interesting (esp bc they're BlackRock).”

If Blackrock's ETF finalizes approval in the next few weeks, the SEC will likely decide the fate of other ETFs around the same time.