BlackRock’s iShares Bitcoin Trust (IBTC) Gets Listed on DTCC

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In a recent development, Bloomberg analyst Eric Balchunas reported that the iShares Bitcoin Trust (IBTC), managed by BlackRock, has been officially listed on the Depository Trust & Clearing Corporation (DTCC). This move is a crucial step in the process of bringing an Exchange-Traded Fund (ETF) tracking Bitcoin to the market.

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BlackRock, in their spot Bitcoin ETF amendment, has stated that they are set to seed the ETF in October. Seeding an ETF involves the initial funding, typically provided by a bank or broker dealer, used to purchase creation units—in this case, Bitcoin—in exchange for ETF shares. This announcement is widely regarded as a positive signal, indicating confidence and progress in obtaining approval for a Bitcoin ETF.

The assigned ticker for the iShares Bitcoin Trust is $IBTC

Simultaneously, the cryptocurrency market experienced notable activity, with the price of Bitcoin (BTC) on Binance reaching a peak of $34,888 on October 24. This surge represented a 24-hour increase of 13.5%, reflecting the dynamic nature of the cryptocurrency market.

the amount of liquidated positions in the past four hours amounted to a staggering $217 million. Within this period, $181 million was liquidated for short orders, underlining the volatility and potential risks associated with trading cryptocurrencies.