August saw the addition of BlackRock’s (BLK.N) proposed bitcoin exchange-traded fund (ETF) to a clearinghouse eligibility file; however, clearinghouse DTCC stated that this action does not imply regulatory clearance.
Bitcoin saw its largest two-day surge in seven months due to speculation that BlackRock or several other pending candidates for Bitcoin ETFs will be successful.
Traders had seen it on a list on the website of DTCC, a post-trade settlement firm that handled almost $2.5 quadrillion in deals across all asset classes in 2022, according to its annual report.
According to the clearinghouse, Blackrock’s iShares Bitcoin Trust ETF was included in August as “standard practice…in preparation for the launch of a new ETF.” The list comprises both existing and prospective ETFs.
An email from a firm spokeswoman stated, “Being on the list is not indicative of an outcome for any outstanding regulatory or other approval processes.”
A request for comment from BlackRock was not immediately answered. Tuesday saw Bitcoin reach an 18-month high of $35,198, and on Wednesday, it was last trading at $33,802 in Asian trade.
Demand is expected to increase if the U.S. Securities and Exchange Commission (SEC) approves an exchange-traded fund (ETF) that holds bitcoin for fund investors.
It would introduce a fresh influx of cash into the cryptocurrency space by enabling formerly hesitant investors to access it through the stock market. The SEC chose not to respond.
