The iShares spot Bitcoin exchange-traded fund (ETF) proposed by investment firm BlackRock has listed with the U.S. Securities and Exchange Commission (DTCC), which means it may receive SEC approval.
Bloomberg ETF analyst Eric Balchunas in an Oct. 23 (formerly Twitter) post explain The DTCC listing is “part of the overall process” of bringing crypto ETFs to market. The iShares Spot Bitcoin (BTC) ETF, which trades under the ticker IBTC, may list on the Nasdaq stock exchange, where the investment vehicle applied to list and trade in June.
“This is the first spot ETF to be listed on DTCC, and no other exchange has listed it yet,” Balchunas said. “It’s worth noting that BlackRock has a lot of experience with these logistics (seeds, shares, DTCC) that tend to happen before launch. are in the lead. It’s hard not to think that this is the signal they’re receiving that approval is certain/imminent.”
The iShares Bitcoin Trust is listed on the DTCC (Depository Trust & Clearing Corporation, which clears Nasdaq transactions).The stock price will be $IBTC. part of the overall process of bringing ETFs to market again.. h/t @martypartymusic pic.twitter.com/8PQP3h2yW0
— Eric Balchunas (@EricBalchunas) October 23, 2023
Balchun speculative BlackRock may have already received approval from the SEC to list the ETF or is “making all the preparations.” Based on the date of BlackRock’s filing, the SEC must make a final decision on approving or rejecting the ETF by January 10, 2024.
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If BlackRock’s application is approved, a number of spot crypto ETF applications currently under review by the SEC could be opened, including those from ARK Investment, Fidelity and Valkyrie. To date, the U.S. Securities and Exchange Commission has not approved applications for spot Bitcoin or Ethereum (ETH) to be listed on U.S. exchanges, but investment vehicles linked to Bitcoin futures will be allowed starting in October 2021.
Prior to BTCC’s listing, the U.S. Court of Appeals issued an order enforcing an August 29 decision requiring the SEC to review Grayscale Investments’ application for a spot BTC ETF. Grayscale submitted a registration statement to the SEC and will list its Bitcoin Trust shares on the New York Stock Exchange Arca on October 19 under the stock code GBTC.
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