Bitcoin ETF Approval Nears as BlackRock’s Seed Investor Steps In
BlackRock’s Bitcoin exchange-traded fund (ETF) may be nearing its launch as the Depository Trust & Clearing Corporation (DTCC) lists a ticker for the iShares Bitcoin Trust (IBTC).
The DTCC is a crucial infrastructure element in U.S. financial markets, responsible for handling an annual volume of $2.3 quadrillion in stock sales. This development comes after BlackRock filed an amendment to the U.S. Securities and Exchange Commission, revealing plans for a seed capital investor to purchase shares this month. Although the specific launch date remains undisclosed, experts speculate that BlackRock may soon infuse cash into the ETF.
A Bitcoin ETF offers investors a means to gain exposure to Bitcoin without dealing with crypto exchanges or custody issues, and experts anticipate a high chance of approval, possibly in January. Numerous Wall Street players, including BlackRock, have applied for Bitcoin ETFs, signaling growing interest in this investment vehicle.
Clever Robot News Desk 25th October 2023
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