BlackRock Bitcoin ETF One Step Closer to Approval as DTCC Listing Fuels Speculation

BlackRock's proposed spot Bitcoin ETF has been listed on the DTCC under the ticker IBTC, suggesting it is close to being approved by the SEC.

Analyst Eric Balchunas said the DTCC listing is part of the process of bringing a crypto ETF to market.

Balchunas speculated BlackRock may have already received approval from the SEC or is prepping assuming so.

If approved, BlackRock's ETF could open the floodgates for other spot crypto ETF applications.

This comes as Grayscale submits a filing to convert its Bitcoin trust into an ETF after a court ruling directing the SEC to review spot Bitcoin ETFs.