BlackRock’s iShares Bitcoin Trust ETF is now added to the DTCC’s eligibility file. A DTCC spokesperson recently confirmed the news with an official statement.
The statement read that it is routine practice for the DTCC to add securities to its NSCC security eligibility file. This is done before the release of every new ETF to the market.
Inclusion on the list does not guarantee approval or regulation of the ETF. Listing the ETF in advance of its release is standard practice.
BlackRock has been in the headlines for a few days now. It started with the company gaining traction after rumors surrounding the SEC approving its BTC ETF started airing. The rumors even helped Bitcoin cross the $30K mark for a brief period.
While the news was denied, BlackRock maintained its relevance among traders. Now, the venture is being highlighted once again after its Bitcoin Trust ETF appeared on the DTCC website.
The IBTC disappeared from the website for a few hours, which caused Bitcoin to dip 3%. However, the ETF reappeared on the website shortly after. The development showed how the market is closely following every BTC ETF movement.
Eric Balchunas, a senior ETF analyst, also pointed out how the IBTC listing crashed the DTCC website. Garnering such levels of attention is rare for the DTCC, proving the uniqueness of the situation.
Another ETF enthusiast noted that the old IBTC entry had Y under create and redeem. However, the new entry had an N under its name.
It was later decided that the letters indicate that BlackRock is getting ready to launch the ETF after SEC approval. The N shows that the ETF is not live yet for users to create or redeem. Bitcoin has been trading around 34,100 dollars for the past 24 hours.
The crypto has gained over 18% growth in the past week, showing how valuable the ETF news has been.