Original author: rhythm worker, BlockBeats
Yesterday, Bloomberg ETF analyst Eric Balchunas published an article saying that he discovered that the iShares Bitcoin Trust, a subsidiary of the asset management giant BlackRock, has been listed on the DTCC (U.S. Securities Depository and Clearing Corporation). The ticker symbol will be IBTC.
DTCC is the custody and settlement center for stocks, bonds, and asset securities across the United States. Responsible for the settlement and delivery services of eight major exchanges including the New York Stock Exchange, NASDAQ, American Stock Exchange, and Chicago Stock Exchange. Its integrated settlement, delivery and centralized custody operation results have become the clearing and custody of the international securities market. The mainstream trend of institutional development.
In the markets view, this is part of the process of introducing spot Bitcoin ETFs to the market, and combined with other news yesterday, these are absolutely positive. Therefore, Bitcoin has also been rising all the way, hitting a new high of 35,000 in 18 months, leading the entire crypto market upward.
Related Reading However, more than ten hours later, attentive netizens discovered that,DTCC official websiteSomething seems to have changed.
BlackRock “IBTC” has disappeared from the list updated by DTCC today. In this regard, Bloomberg ETF analyst Eric Balchunas expressed his view, Im not completely surprised, my guess is that they were told to wait until they were only days away from the implementation date rather than weeks or months before announcing it. Like I said yesterday, its amazing to see it there now.
Just ten minutes after the news of the deletion fermented, another netizen claimed that the DTCC official website had added it back. At that time, BlockBeats checked the official website, but did not find this. The DTCC official website was down and closed.
Within one hour of this incident, the entire crypto market liquidated $47.5109 million in positions, including $41.3639 million in long orders and $6.147 million in short orders. The community is in an uproar, believing that the DTCC is manipulating the market, just like Cointelegraph’s fake news last week about approving the BlackRock Bitcoin Spot ETF.
After a night, the Asian market woke up and found that the DTCC official website could be accessed. The latest data showed that the iShares Bitcoin Spot ETF, a subsidiary of the asset management giant BlackRock, had re-displayed on the DTCC (U.S. Securities Depository and Clearing Corporation) website list. But in the Create/Redeem item, the original Y changed from the earliest Y to N.
Source: DTCC official website
BlockBeats Note: If Create/Redeem displays N, it means that the ETF currently does not allow Create and Redeem operations. Typically, this create and redeem mechanism allows large investors to exchange baskets of shares directly with the ETF provider, ensuring that the difference between the ETFs market price and its net asset value (NAV) remains small. within the range. But if an ETF does not allow this operation, its market price may deviate significantly from its net asset value. Since the ETF has not yet been approved by the SEC, it cannot be traded on the public market, which may be one of the reasons why the ETF does not allow creation and redemption operations.
DTCC also responded to the market’s accusations. A spokesperson said in a statement that BlackRock’s iShares Bitcoin Trust ETF was added to the U.S. Securities Depository and Clearing Corporation’s (DTCC) qualifying documents in August. middle. The spokesperson said: DTCC adds securities to the NSCC Securities Eligibility File in preparation for the launch of new ETFs in the market, which is standard practice. Appearance on the list does not indicate any outstanding regulatory or other approval processes. result.