© Reuters. FILE PHOTO: The BlackRock logo is pictured outside their headquarters in the Manhattan borough of New York City, New York, U.S., May 25, 2021. REUTERS/Carlo Allegri/File Photo
SINGAPORE (Reuters) -BlackRock’s proposed bitcoin exchange-traded fund (ETF) was added to a clearing-house eligibility file in August, but the move is not indicative of any regulatory approval, clearing house DTCC said.
Speculation that BlackRock or a number of other pending bitcoin ETF applicants would succeed has sent bitcoin on its biggest two-day rally for seven months.
Traders had noticed it on a list on the website of DTCC, a post-trade settlement house that according to its annual report processed some $2.5 quadrillion in trades across asset classes in 2022.
The clearing house said the list was its eligibility file, which includes active and potential ETFs and that Blackrock (NYSE:)’s iShares Trust ETF was added in August as “standard practice…in preparation for the launch of a new ETF”.
“Appearing on the list is not indicative of an outcome for any outstanding regulatory or other approval processes,” a spokesperson for the company said by email.
BlackRock did not immediately respond to a request for comment. Bitcoin touched an 18-month high of $35,198 on Tuesday and was last at $33,802 in Asia trade on Wednesday.
Any approval by the U.S. Securities and Exchange Commission (SEC) of an exchange-traded fund that owns bitcoin on behalf of fund investors is predicted to fuel demand.
It would allow previously wary investors access to crypto via the stock market, ushering a new wave of capital into the sector.
The SEC declined to comment.
Read the full article here
