Crypto Live Update: BlackRock's iShares Bitcoin ETF Mysteriously Disappears and Reappears on DTCC Site.
BlackRock’s iShares Bitcoin ETF mysteriously disappears — then reappears — on DTCC site

Bitcoin Price Surges on IBTC ETF Apperance

The Depository Trust and Clearing Corporation’s (DTCC) website saw a brief spike in activity when the ticker for BlackRock’s spot Bitcoin (BTC) exchange-traded fund (ETF) IBTC reappeared after being gone for a few hours.

The price of Bitcoin surged to reach new yearly highs following the Oct. 23 surprise appearance of IBTC on the website, with markets frenzied over the sign of a potential soon-to-come spot ETF approval.

When the ticker suddenly disappeared from the site a few hours later, Bitcoin‘s price slumped nearly 3%, indicating that much of the trading activity seems to be based on watching ETF-related developments.

Senior Bloomberg ETF analyst Eric Balchunas noted that the drama around the IBTC listing seemed to be responsible for briefly crashing the DTCC website.

Crypto Listing Update

The DTCC is witnessing an unprecedented level of attention due to the unique intensity of the crypto saga, according to Balchunas.

When IBTC was re-listed, a Twitter user noticed a difference in the “create/redeem” column between the previous listing and the new listing, which showed an “N”.

Bloomberg ETF analyst James Seyffart responded, saying he believes the “N” indicates BlackRock is “getting everything ready to launch” crypto, pending SEC approval. Seyffart added that the “N” means the crypto is “not open for create redeem because it’s not live yet.”

Crypto Listing Added to DTCC Site

According to a Reuters report on Oct. 25, the IBTC listing was added to the DTCC’s site in August, but only became widely known a few days ago.

A spokesperson from the DTCC stated that it is standard practice to add securities to the NSCC security eligibility file “in preparation for the launch of a new ETF to the market.”

The spokesperson added that “appearing on the list is not indicative of an outcome for any outstanding regulatory or other approval processes.”

CoinMarketCap data shows that Bitcoin has remained steady after the IBTC listing was noticed, and is up 0.15% in the last hour.

Crypto now live, Bitcoin is trading at $33,940 with a 19.1% surge over the past week.

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