BlackRock’s Bitcoin exchange-traded fund (ETF) might be close to launching. A ticker for the iShares Bitcoin Trust, IBTC, has been listed by the Depository Trust & Clearing Corporation (DTCC).

The DTCC is a massive piece of behind-the-scenes infrastructure in U.S. financial markets. It handles an astounding $2.3 quadrillion—that’s $1 billion times $2.3 million—worth of stock sales annually, which makes it the largest financial clearinghouse in the world. Senior Bloomberg Intelligence analyst Eric Balchunas made note of the update on Twitter.

This follows news last week that the fund manager’s latest application amendment shows that a seed investor could be funding the product this month.

In a filing to the U.S. Securities and Exchange Commission last week, the world’s biggest fund manager said the seed capital investor had planned to buy shares in October.

The exact date had been redacted from the amendment. The visible part of the amendment reveals that the seed capital investor would buy this month.

A seed capital investor initially funds an ETF to get it off the ground and trading on a stock exchange.

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Author: Mathew Di Salvo

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