Key Points:
Adding to the intrigue, the DTCC website went down after the IBTC listing vanished, underscoring the crypto market’s sensitivity to any signs of an SEC-approved spot Bitcoin ETF.
This rollercoaster began on Monday when the DTCC added BlackRock’s iShares Bitcoin Trust with the IBTC ticker symbol to its reference database. This move fueled speculation that approval for the world’s largest asset manager’s spot bitcoin ETF was imminent, causing Bitcoin to surge to over $35,000.
However, the next day, IBTC was unceremoniously removed from the DTCC’s listings without explanation. The abrupt removal not only dashed hopes for imminent approval but also sent Bitcoin tumbling back below $34,000.
The vanishing IBTC ticker symbol highlights the regulatory uncertainty surrounding cryptocurrency ETFs in the United States. Despite growing interest and anticipation for such investment vehicles, the SEC’s stance on these offerings remains a crucial and unpredictable factor affecting the crypto market.
The fate of BlackRock’s Bitcoin ETF seems to be having a strong impact on Bitcoin prices, and the development of the DTCC website went down. Currently, BTC is still the asset with the largest capitalization in the crypto market.
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.
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