{"id":24065,"date":"2023-10-25T00:32:52","date_gmt":"2023-10-25T00:32:52","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/blackrocks-ishares-bitcoin-etf-mysteriously-disappears-then-reappears-on-dtcc-site\/"},"modified":"2023-10-25T00:32:54","modified_gmt":"2023-10-25T00:32:54","slug":"blackrocks-ishares-bitcoin-etf-mysteriously-disappears-then-reappears-on-dtcc-site","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/blackrocks-ishares-bitcoin-etf-mysteriously-disappears-then-reappears-on-dtcc-site\/","title":{"rendered":"BlackRock’s iShares Bitcoin ETF mysteriously disappears \u2014 then reappears \u2014 on DTCC site"},"content":{"rendered":"
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The ticker for BlackRock’s spot Bitcoin (BTC) exchange-traded fund (ETF) IBTC has reappeared on the Depository Trust and Clearing Corporation\u2019s (DTCC) website after disappearing for a few hours.<\/p>\n

The price of Bitcoin surged to 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.<\/p>\n

When the ticker quietly disappeared from the site a few hours later, Bitcoin\u2018s price slumped nearly 3%, indicating that much of the trading activity seems to be hinged on watching ETF-related developments.<\/p>\n

BlackRock\u2019s iShares IBTC ETF is back on the DTCC’s site. Source: DTCC<\/em><\/figcaption><\/figure>\n

Senior Bloomberg ETF analyst Eric Balchunas pointed out the drama around the IBTC listing seemed to be responsible for briefly crashing the DTCC website.<\/p>\n

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Looks like the DTCC website has crashed pic.twitter.com\/UyrrfAl2Eu<\/a><\/p>\n

\u2014 Eric Balchunas (@EricBalchunas) October 24, 2023<\/a><\/p><\/blockquote>\n

The DTCC doesn\u2019t typically witness this level of attention, Balchunas explained \u2014 which \u201cspeaks to the uniqueness and intensity of this entire saga.\u201d<\/p>\n

Related: <\/em><\/strong>BlackRock\u2019s spot Bitcoin ETF now listed on Nasdaq trade clearing firm \u2014 Bloomberg analyst<\/em><\/strong><\/p>\n

Upon IBTC\u2019s re-listing, one X (Twitter) user highlighted that the previous listing showed a \u201cY\u201d under the \u201ccreate\/redeem\u201d column while the new listing had an \u201cN.\u201d<\/p>\n

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One significant change in the DTCC iShares Bitcoin Trust (IBTC) listing I see here. The original listing (on the right) had a “Y” under create\/redeem. This one has an “N.” What does that mean @EricBalchunas<\/a> @JSeyff<\/a> ? pic.twitter.com\/Y89rK2TqlI<\/a><\/p>\n

\u2014 Joe Light (@joelight) October 24, 2023<\/a><\/p><\/blockquote>\n

Bloomberg ETF analyst James Seyffart responded to the query saying he believes it indicates BlackRock is \u201cgetting everything ready to launch if and when they get an SEC approval.\u201d<\/p>\n

\u201cThe \u2018N\u2019 just means it\u2019s not open for create redeem because it\u2019s not live yet,\u201d Seyffart added. <\/p>\n

\u201cIt is standard practice for DTCC to add securities to the NSCC security eligibility file in preparation for the launch of a new ETF to the market,\u201d a DTCC spokesperson said in a statement. \u201cAppearing on the list is not indicative of an outcome for any outstanding regulatory or other approval processes.”<\/p>\n

Bitcoin has held steady following IBTC\u2019s reappearance and is up 0.15% in the last hour according to CoinMarketCap data.<\/p>\n

Bitcoin\u2019s price held firm following IBTC\u2019s reappearance \u2014 up 0.15% in the last hour. Source: CoinMarketCap<\/em><\/figcaption><\/figure>\n

Bitcoin is trading at $33,940 marking a 19.1% gain over the past week.\u00a0<\/p>\n

Magazine: <\/em><\/strong>Blockchain detectives \u2014 Mt. Gox collapse saw birth of Chainalysis<\/em><\/strong><\/p>\n<\/div>\n