Key Points:
According to crypto industry expert Gabor Gurbacs, issuers often have the option to make preemptive moves, but this situation might have benefited from prior regulatory consultation. Bloomberg analyst James Seyffart speculated that the U.S. Securities and Exchange Commission (SEC) may have been in contact with BlackRock regarding this development.
BlackRock spot Bitcoin ETF, with the ticker symbol IBTC, had initially been listed on the DTCC, suggesting potential approval by the SEC. If approved, this ETF could pave the way for several other spot crypto ETFs currently under SEC review, including those from ARK Investment, Fidelity, and Valkyrie.
As of now, the SEC has not greenlit a spot for Bitcoin or Ether ETFs to list on a U.S. exchange, although they began allowing investment products tied to Bitcoin futures in October 2021.
The appearance of the product on DTCC’s website followed BlackRock’s revision of its Bitcoin ETF proposal on October 18. Notably, other firms like Ark Invest and 21Shares had made changes to their Bitcoin ETF applications ahead of BlackRock, emphasizing that the trust’s assets would remain separate from corporate or other customer assets.
The removal of IBTC from the DTCC website has raised uncertainty about the future of BlackRock Bitcoin ETF and the broader landscape of crypto-related ETFs in the U.S. It underscores the evolving regulatory environment in which these investment products operate.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Senator Lummis’s Federal Reserve Bitcoin Proposal urges the Fed to sell some gold reserves and…
Pennsylvania proposes a Bitcoin Reserve, aiming to hold BTC as a state reserve asset to…
Let’s dive into why Qubetics might just be the investment to settle those Avalanche regrets.
Discover how Toncoin's valuation, SUI's latest Google Cloud partnership, and BlockDAG's soaring presale frame the…
Free crypto airdrops are one of the ways to help users participate in the project…
The PancakeSwap Swap Bot supports trading on PancakeSwap’s v2, v3, and stableswap protocols on the…
This website uses cookies.