Bitcoin (BTC) Hits New 2023-High at $35,000 Amid BlackRock’s Move
The post Bitcoin (BTC) Hits New 2023-High at $35,000 Amid BlackRock’s Move appeared on BitcoinEthereumNews.com.
The world’s largest cryptocurrency Bitcoin (BTC) has given a massive 12% breakout hitting its new high of $35,000 for the year 2023. With this move, Bitcoin has extended its year-to-date gains to more than 100%. BlackRock Makes the Big Move The recent development comes as BlackRock’s iShares Bitcoin Trust gets listed on the DTCC – Depository Trust & Clearing Corporation. Additionally, the asset management giant is also planning to seed its iShares Bitcoin ETF by the end of this month. All this indicates a step further towards the listing of the first US spot Bitcoin ETF in the coming months. The iShares Bitcoin Trust has been listed on the DTCC (Depository Trust & Clearing Corporation, which clears NASDAQ trades). And the ticker will be $IBTC. Again all part of the process of bringing ETF to market.. h/t @martypartymusic pic.twitter.com/8PQP3h2yW0 — Eric Balchunas (@EricBalchunas) October 23, 2023 At press time, Bitcoin is trading 12.14% up at $34,449 with a market cap of $670 billion. Just within the last 24 hours, BTC has added nearly $100 billion to its market cap. Grayscale’s spot Bitcoin ETF Expectations for a bitcoin exchange-traded fund (ETF) have increased following recent reports. This includes the recent development that the U.S. Securities and Exchange Commission will not challenge a court ruling that found it was unjust in denying an application from Grayscale Investments. In a further development on Monday, October 23, the US federal court ordered the SEC to review Grayscale’s spot Bitcoin ETF application. Analysts from Bloomberg Intelligence, Elliott Stein and James Seyffart, have expressed their belief that the approval of a spot Bitcoin ETF is virtually certain, with multiple funds expected to receive approval, albeit the exact timing remains uncertain. Speaking on the development, Justin d’Anethan, head of business development in the Asia Pacific at crypto…
Filed under: News - @ October 24, 2023 7:22 am