Content CatalogUpdate of grayscale ETF application statusBlackRock Bitcoin ETF Success ReportBitcoin prices skyrocketUpdate of grayscale ETF application statusAccording to the latest order issued by the US Court of Appeals, the court is expected to require the SEC to review Bitcoin ETF applications submitted by grayscale companies.On the other hand, according to the SEC documents shared by ETFStore Chairman Nate Geraci, the SEC has accepted the filing of grayscale submitted Ethereum spot ETFs, which will be a necessary process for converting grayscale Ethereum Trust Fund ETHE into spot ETFs
Content Catalog
- Update of grayscale ETF application status
- BlackRock Bitcoin ETF Success Report
- Bitcoin prices skyrocket
Update of grayscale ETF application status
According to the latest order issued by the US Court of Appeals, the court is expected to require the SEC to review Bitcoin ETF applications submitted by grayscale companies.
On the other hand, according to the SEC documents shared by ETFStore Chairman Nate Geraci, the SEC has accepted the filing of grayscale submitted Ethereum spot ETFs, which will be a necessary process for converting grayscale Ethereum Trust Fund ETHE into spot ETFs.
SEChasacknowledgedGrayscale's sspotetherETFfilling
Thiswouldbeconversion of $ETHEinto ETF. pic. Twitter. com/JMmutgbakZ- NateGeraci (@ NateGeraci) October232023
BlackRock Bitcoin ETF Success Report
Bloomberg ETF analyst Eric Balchunas posted on the X platform that BlackRock's Bitcoin spot ETF has been listed on the US Depository and Clearing Corporation (DTCC) under the stock code IBTC.
TheiSharesBitcoinTrusthasbeenlisted on the DTCC (DepositoryTrust& Clearing Corporation, which leads NASDAQtrades). Andthetickerwillbe $IBTC. Againallparts of the processof bringingETFtomarket H/t@ martypartymusicpic.twitter.com/8PQP3h2yW0
- Eric Balchunas (@ Eric Balchunas) October232023
Although iSharesBitcoinTrust has not yet obtained approval from the SEC for listing, the listing of DTCC and SEC approval are two different processes.
DTCC (DepositoryTrust&Clearing Corporation) is a company in the United States that provides settlement and delivery services. When a stock, ETF (exchange traded fund), or other financial product is listed on DTCC, it means that the product can be traded, settled, and delivered through DTCC's system. However, until approved by the SEC, IBTC will not be listed on any exchange or traded in the open market.
Eric Balchunas cited information from US financial lawyer Scott Johnsson in another tweet stating that BlackRock is expected to inject Seed Capital into its Bitcoin ETF in October.
Seed funds typically refer to an initial amount of funds provided by founding investors (typically large institutional investors such as BlackRock) to establish the ETF. The purpose of seed funds is to ensure that ETFs have sufficient scale and liquidity at the time of launch, so that other investors can smoothly trade when purchasing or selling ETFs in the open market.
Bitcoin prices skyrocket
Various news has driven the soaring price of Bitcoin today, approaching the $35000 mark this morning.
Will Clemente, Founder of ReflexitivityResearch, on XcommentDao:
Rumors of communication between the SEC and potential Bitcoin ETF issuers, issuer updates, BlackRock's Bitcoin ETF being listed on the Depository Trust and Clearing Company, and a judge ordering the SEC to review Grayscale's spot ETF application documents. All indications indicate that it (Bitcoin Spot ETF) is about to arrive
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