The post BlackRock’s iShares Bitcoin Trust gets relisted on DTCC appeared on BitcoinEthereumNews.com.

BlackRock’s turbulent day began with its iShares Bitcoin Trust facing a sudden delisting, followed by an unanticipated relisting on the Depositary Trust and Clearing Corporation (DTCC) platform. All this commotion, combined with the DTCC website’s technical issues, has thrust the world’s largest asset manager back into the limelight. But for those keenly tracking cryptocurrency dynamics, what does all this hullabaloo translate into? A Bump on Bitcoin’s Ride In the ever-evolving world of cryptocurrencies, stability can sometimes be elusive. Earlier this week, BlackRock’s iShares Bitcoin Trust was freshly incorporated into the DTCC’s reference database, sporting the IBTC ticker. But this inclusion was short-lived. A mysterious removal from the DTCC’s listings sent shockwaves through the Bitcoin market. The digital currency, which was comfortably riding above the $35,000 mark, plummeted below $34,000 in mere hours. However, the financial landscape is nothing if not unpredictable. As swiftly as it had disappeared, the IBTC listing reemerged on the DTCC platform. Now, with its reinstatement, speculations are rife about Bitcoin clawing its way back to its previous position, if not higher. The Quest for Spot Bitcoin ETF Approvals It’s not just BlackRock striving for that coveted spot in the Bitcoin ETF arena. Several asset managers have thrown their hats into the ring, eagerly waiting for the green light from the U.S. Securities and Exchange Commission (SEC). However, while the pathway is littered with hope, it’s also riddled with challenges. BlackRock’s recent entanglement with the SEC over alleged disclosure discrepancies is a testament to the regulatory complexities in this space. Yet, there’s an undercurrent of optimism. The SEC’s recent decision to withdraw its lawsuit against Ripple XRP executives has been perceived as a positive indicator by many in the industry. This, combined with SEC Chair Gensler’s comments on processing Bitcoin ETF applications – with a high likelihood…

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Filed under: News - @ October 25, 2023 3:12 am