BlackRock’s iShares Bitcoin Trust has been listed on the Depository Trust and Clearing Corporation (DTCC) amid staunch demand for an ETF within the crypto industry and broader financial markets.

The addition, although routine, highlights progress made with bringing a spot Bitcoin (BTC) ETF to U.S. markets for the first time. DTCC is the clearing house for NASDAQ trading according to ETF expert Eric Balchunas.

Additionally, the listing on DTCC confirmed that BlackRock’s BTC fund will trade under the ticker IBTC. It is also the first spot Bitcoin ETF out of a dozen applications submitted since June 15 to appear on DTCC’s list. 

In an amendment made to its filing with the U.S. Securities and Exchange Commission (SEC), BlackRock reportedly disclosed the seeding schedule slated to begin in October 2023. 

Seeding refers to an ETF’s initial funding geared toward day-one trading. Bloomberg’s Balchunas noted that this amount is typically moderate. 

SEC Chair Gary Gensler and his securities watchdog remain at the forefront of ETF conversations as the federal agency continued its application assessment, per a crypto.news report on Oct. 19.

BTC prices previously surged beyond $30,000 on the back of an unconfirmed ETF approval announcement from

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Author: Naga Avan-Nomayo

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