Bitcoin

<p>The world of cryptocurrency investment is abuzz with the latest development in the quest for a Bitcoin exchange-traded fund (ETF). BlackRock, one of the largest investment firms globally, has achieved a significant milestone by getting its iShares spot Bitcoin ETF listed on the Depository Trust &amp; Clearing Corporation (DTCC). This move suggests a potential green light from the United States Securities and Exchange Commission (SEC) for a Bitcoin ETF, and it could have far-reaching implications for the world of crypto investments. Oh, what a turn!</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/c0184c2782914efab3bbd2cb5ca264a5.gif" /></p><h3 id="read-more-on-bitcoin-etf">Read More on Bitcoin ETF:</h3><ul><li><a href="https://hodl.fm/ark-invests-bold-response-paving-the-way-for-a-spot-bitcoin-etf" rel="noopener noreferrer nofollow">ARK Invest’s Bold Response: Paving the Way for a Spot Bitcoin ETF</a></li><li><a href="https://hodl.fm/sec-postpones-decision-spot-bitcoin-etfs" rel="noopener noreferrer nofollow">SEC Postpones Decision on Spot Bitcoin ETFs from BlackRock, Bitwise, Valkyrie, and Invesco</a></li></ul><h2 id="header-0">DTCC Listing Signals Progress</h2><p>In a recent Twitter thread on October 23rd, Bloomberg ETF analyst Eric Balchunas discussed the DTCC listing of the iShares spot Bitcoin ETF. He emphasized that this listing is an essential step in the intricate process of bringing a cryptocurrency ETF to the market. The ETF, with the ticker symbol IBTC, is now poised for potential listing on the Nasdaq stock exchange, as BlackRock applied to list and trade its shares in June.</p><p>https://twitter.com/DaanCrypto/status/1716115443356774750</p><p>Eric Balchunas noted that the iShares spot Bitcoin ETF is the first of its kind to be listed on DTCC, setting it apart from its competitors. He also pointed out that BlackRock&#39;s proactive approach to logistics, such as seeding, selecting a ticker symbol, and engaging with DTCC, strongly suggests that the investment giant anticipates approval from the SEC. This move is a significant indicator that approval is imminent or even already secured.</p><h2 id="header-1">SEC Approval on the Horizon?</h2><p><a href="https://twitter.com/EricBalchunas/status/1716536307223036098" rel="noopener noreferrer nofollow">Balchunas speculated</a> that BlackRock may have already received a preliminary nod from the SEC, or they are diligently preparing for a positive outcome. According to the timeline, the SEC has until January 10, 2024, to make a final decision regarding the ETF&#39;s approval or denial.</p><p>https://twitter.com/EricBalchunas/status/1716529570759704832?ref_src&#61;twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1716529570759704832%7Ctwgr%5E30f0b8552cc3a1969d943cb3da7b89bb58817fc4%7Ctwcon%5Es1_&amp;ref_url&#61;https%3A%2F%2Fcointelegraph.com%2Fnews%2Fblackrock-spot-bitcoin-etf-nasdaq-clearing-firm</p><p>If BlackRock&#39;s application is approved, it could open the floodgates for a host of spot cryptocurrency ETF filings currently under review by the SEC. Notable contenders include applications from ARK Investment, Fidelity, and Valkyrie. Up to this point, the SEC has not approved a spot Bitcoin or Ethereum application for listing on a U.S. exchange. However, it began permitting investment products tied to Bitcoin futures in October 2021.</p><h2 id="header-2">A Legal Mandate Pushing the Boundaries</h2><p>This latest development follows a mandate issued by a U.S. appellate court, which enforces a decision from August 29. This decision compels the SEC to review an application for a spot Bitcoin ETF from Grayscale Investments. In response to this mandate, Grayscale submitted a registration statement to the SEC on October 19, aiming to list shares of its Bitcoin trust on the New York Stock Exchange Arca under the ticker symbol GBTC.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/d47de4bc1b0f4ec1a1b4a099a78ce5aa.gif" /></p><h2 id="header-3">Conclusion</h2><p>BlackRock&#39;s iShares spot Bitcoin ETF&#39;s listing on DTCC marks a pivotal moment in the cryptocurrency investment landscape. It not only signifies a significant step towards a potential Bitcoin ETF but also demonstrates BlackRock&#39;s strong commitment to this emerging asset class.</p><h3 id="more-on-bitcoin-from-hodl-fm">More on Bitcoin from Hodl.Fm:</h3><ul><li><a href="https://hodl.fm/tesla-bitcoin-strategy-unveiled" rel="noopener noreferrer nofollow">Tesla’s Bitcoin Moves: Unpacking the Quarter’s Crypto Strategy</a></li><li><a href="https://hodl.fm/viva-la-bitcoin-the-cuban-economical-rebellion" rel="noopener noreferrer nofollow">Viva la Bitcoin! The Cuban Economical Rebellion</a></li></ul><p>If approved, this ETF could pave the way for a new era in cryptocurrency investments, drawing in institutional and retail investors alike. As the SEC&#39;s decision deadline approaches, the crypto world eagerly anticipates the verdict that could reshape the future of digital asset investments.</p><p><strong>Disclaimer</strong>: <em>All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website, HODL.FM is not a financial reference resource and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice of this sort, HODL.FM strongly recommends contacting a qualified industry professional.</em></p>

BlackRock's iShares Bitcoin ETF Takes a Step Closer to Reality

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