BlackRock’s iShares Bitcoin ETF mysteriously disappears — then reappears — on DTCC site

The ticker for BlackRocks spot Bitcoin (BTC) exchange-traded fund (ETF) IBTC has come back on the Depository Trust and Cleaning Corporations (DTCC) website after vanishing for a few hours.The rate of Bitcoin surged to new annual highs following the Oct. 23 surprise appearance of IBTC on the website with markets crazy over the indication of a potential soon-to-come area ETF approval.When the ticker quietly disappeared from the website a few hours later, Bitcoins rate dropped nearly 3%, indicating that much of the trading activity appears to be hinged on seeing ETF-related developments.BlackRocks iShares IBTC ETF is back on the DTCCs site. Source: DTCCSenior Bloomberg ETF analyst Eric Balchunas mentioned the drama around the IBTC listing appeared to be accountable for briefly crashing the DTCC website.Looks like the DTCC website has actually crashed pic.twitter.com/UyrrfAl2Eu— Eric Balchunas (@EricBalchunas) October 24, 2023

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” The N simply indicates its not open for create redeem because its not live yet,” Seyffart included. “It is basic practice for DTCC to include securities to the NSCC security eligibility file in preparation for the launch of a new ETF to the market,” a DTCC representative said in a declaration.” Bitcoin has held steady following IBTCs reappearance and is up 0.15% in the last hour according to CoinMarketCap data.Bitcoins price held firm following IBTCs reappearance– up 0.15% in the last hour.

The DTCC does not generally witness this level of attention, Balchunas explained– which “speaks with the uniqueness and strength of this whole saga.” Related: BlackRocks area Bitcoin ETF now noted on Nasdaq trade clearing company– Bloomberg analystUpon IBTCs re-listing, one X (Twitter) user highlighted that the previous listing showed a “Y” under the “create/redeem” column while the new listing had an “N.” One substantial change in the DTCC iShares Bitcoin Trust (IBTC) listing I see here. The original listing (on the right) had a “Y” under create/redeem. This one has an “N.” What does that mean @EricBalchunas @JSeyff? pic.twitter.com/Y89rK2TqlI— Joe Light (@joelight) October 24, 2023