Nasdaq DTCC Welcomes BlackRock’s iShares Bitcoin Trust

BlackRock’s iShares Bitcoin Trust has secured its place on the Depository Trust and Clearing Corporation (DTCC) roster. This move, though customary, showcases the strides taken towards introducing a spot Bitcoin ETF to American investors.

The DTCC, recognized as NASDAQ’s clearing house, now includes the BlackRock BTC fund. As confirmed by the listing, the fund will operate under the ticker IBTC. Eric Balchunas, an ETF specialist, elucidated the significance of this incorporation. Furthermore, of all the Bitcoin ETF applications submitted since mid-June, BlackRock’s iShares Bitcoin Trust stands out as the premier entrant on the DTCC’s list.

BlackRock, in an update to its submission to the U.S. Securities and Exchange Commission (SEC), unveiled plans for its seeding phase, set to commence in October 2023. As Eric Balchunas from Bloomberg highlighted, seeding pertains to the initial capital poured into an ETF to facilitate its launch-day trading, and this figure is usually modest.