Unexpected removal sparks speculation about the future of the ETF and causes a dip in Bitcoin's price, despite increased interest from institutional investors.
BlackRock's highly anticipated spot bitcoin ETF, the iShares Bitcoin Trust, has been removed from the list maintained by the Depository Trust and Clearing Corporation (DTCC). This unexpected development has caused a dip in Bitcoin's price and sparked speculation about the future of the ETF.
The iShares Bitcoin Trust's appearance on the DTCC list had previously caused a rally in Bitcoin's price. However, its sudden removal has led to a decline in the cryptocurrency's value, with a drop of over 3% reported. This has dimmed hopes for Bitcoin reaching a value of $35K in the near future.
The removal of the ETF from the DTCC list has led to speculation about the reasons behind it. Some suggest that the Securities and Exchange Commission (SEC) may have intervened, while others believe that BlackRock may have decided to postpone the launch of the ETF. The SEC has yet to approve a spot bitcoin ETF, adding to the uncertainty.
Despite the removal from the DTCC list, recent modifications to the Registration Statement for the iShares Bitcoin Trust suggest that BlackRock could potentially be making Bitcoin purchases this month. However, the removal from the website may indicate that regulatory approval is not as close as previously thought.
Despite the uncertainty surrounding BlackRock's Bitcoin ETF, interest in Bitcoin futures has reached an unprecedented $3.4 billion. This indicates increased interest from institutional investors, suggesting a positive sentiment towards the potential approval of a Bitcoin ETF.
Both BlackRock and the SEC have declined to comment on the matter, leaving the future of the iShares Bitcoin Trust uncertain.
