BlackRock Bitcoin ETF: Trading symbol suddenly reappeared

BlackRock is still officially awaiting SEC approval for its Bitcoin Spot ETF, but the trading symbol "IBTC" appeared on the Depository Trust & Clearing Cooperation (DTCC) site. The market saw this as further confirmation that the Bitcoin Spot ETF was within reach. Consequently, the Bitcoin price rose sharply.

In the meantime, the listing was revoked and now a few hours later it was added back. So far, no one can say for sure why. So the supposition suggests that there is more need for coordination on the part of the SEC. It is possible that this was just a temporary adjustment to the website.

Market expert Eric Balchunas, who is considered one of the leading commentators on Bitcoin spot ETF applications, was not very shocked, but somewhat surprised. He said on X that he suspected the SEC had told BlackRock to wait a little longer before actually listing. The Bitcoin exchange rate is still above US$34,000 at the time of writing. This indicates that the market is still convinced of its adoption.