BlackRock Bitcoin ETF added to eligibility file, says clearing house DTCC
BLACKROCK’S proposed bitcoin exchange-traded fund (ETF) was added to a clearing-house eligibility file in August, but the move is not indicative of any regulatory approval, clearing house DTCC said.
Speculation that BlackRock or a number of other pending Bitcoin ETF applicants would succeed has sent Bitcoin on its biggest two-day rally for seven months.
Traders had noticed it on a list on the website of DTCC, a post-trade settlement house that according to its annual report processed some US$2.5 quadrillion in trades across asset classes in 2022.
The clearing house said the list was its eligibility file, which includes active and potential ETFs and that Blackrock’s iShares Bitcoin Trust ETF was added in August as “standard practice...in preparation for the launch of a new ETF”.
“Appearing on the list is not indicative of an outcome for any outstanding regulatory or other approval processes,” a spokesperson for the company said.
BlackRock did not immediately respond to a request for comment. Bitcoin touched an 18-month high of US$35,198 on Tuesday (Oct 24) and was last at US$33,802 in Asia trade on Wednesday.
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
Any approval by the US Securities and Exchange Commission (SEC) of an ETF that owns bitcoin on behalf of fund investors is predicted to fuel demand.
It would allow previously wary investors access to crypto via the stock market, ushering a new wave of capital into the sector.
The SEC declined to comment. REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Goldman Sachs hires from rivals to expand in mid-market deals
Japan’s big banks forecast record profits, signal new optimism as domestic rates normalise
New Thai Finance Minister to meet central bank chief on Thursday
ABN Amro rides high rates with first-quarter net profit beat
China’s central bank leaves key policy rate unchanged
NYCB to sell nearly US$5 billion of mortgage warehouse loans to JPMorgan