BlackRock Spot Bitcoin ETF has been listed on NASDAQ Trading Clearing

By Turner Wright, Cointelegraph; Compiled: Pine Snow, Golden Finance

The iShares spot bitcoin exchange-traded fund (ETF) proposed by investment firm BlackRock is listed with the US Depository Trust and Clearing Corporation (DTCC), which means it may be approved by the US Securities and Exchange Commission.

Bloomberg ETF analyst Eric Balchunas said in an October 23 (former Twitter) post that the DTCC listing was “part of the whole process” of bringing crypto ETFs to market. The iShares spot Bitcoin ETF, which has the ticker symbol IBTC and may be listed on the NASDAQ Stock Exchange, filed for listing and trading in June.

Balchunas said: "This is the first spot ETF listed on the DTCC and there are no other exchanges listed yet. "BlackRock is clearly driving these matters related to the pre-IPO process (seed funding, ticker, DTCC, etc.). It’s hard not to see this as a clear signal that they’ve received approval or a sign that they’re coming. ”

Balchunas speculated that BlackRock may have obtained SEC permission to list ETFs or is “assuming everything is ready.” Based on the date BlackRock filed the application, the SEC must make a final decision on the approval or rejection of the ETF by January 10, 2024.

If BlackRock’s application is approved, a number of spot crypto ETF applications currently under review by the SEC may be opened, including applications from ARK Investment, Fidelity, and Valkyrie. To date, the SEC has not approved applications for spot Bitcoin or Ethereum ETFs listed on U.S. exchanges, but has allowed investment vehicles related to Bitcoin futures since October 2021.

The BTCC listing comes after a U.S. appeals court issued an order enforcing the August 29 decision requiring the SEC to review Grayscale Investments’ spot BTC ETF application. Grayscale filed a registration statement with the SEC to list its Bitcoin Trust shares on the New York Stock Exchange Arca under the ticker symbol GBTC on October 19.