Bitcoin rises back above $34,000 as BlackRock’s proposed ETF returns to DTCC list after disappearing earlier Tuesday
Bitcoin’s price rose back above $34,000 in a bouncy day of trading on Tuesday as BlackRock’s proposed spot bitcoin ETF disappeared from a list maintained by the Depository Trust and Clearing Corporation only to reappear later in the evening.
DTCC provides post-trade clearance, settlement, custody and information services for Nasdaq, and many industry watchers interpreted the initial appearance of BlackRock’s iShares Bitcoin Trust fund on the list as a sign that potential approval from the Securities and Exchange Commission might be one step closer. The world’s largest cryptocurrency by market capitalization surged to $35,000, the highest level since May, 2022.
After the BlackRock fund disappeared from the list Tuesday morning, bitcoin pared some of its gains, and the DTCC’s website appeared to crash from all the attention.
‘Intensity of this entire saga’
“DTCC is def not used to this kind of attn or action, it lives behind scenes, very boring. Speaks to the uniqueness and intensity of this entire saga,” Bloomberg Senior ETF Analyst Eric Balchunas wrote earlier in the day in a post on X.
The DTCC did not respond to requests for comment earlier in the day from The Block, while BlackRock declined to comment.
Bitcoin’s price rose 7.2% over the past 24 hours to $34,125 at 6:14 p.m. ET, according to CoinGecko. It’s risen 19.7% over the past week.
The SEC has yet to approve a spot bitcoin exchange-traded fund.