Bitcoin Pumped in Expectation of the Spot ETF | Crypto Daily Digest Oct.24
The Blackrock iShares spot Bitcoin ETF has been listed on the DTCC (Depository Trust & Clearing Corporation), marking it as the first spot ETF to achieve this milestone. It now possesses a CUSIP number, a 9-digit alphanumeric code essential for identifying North American and Canadian securities, and will be traded under the ticker symbol $IBTC if approved.
In the most recent iShares S-1 amendment, it was indicated that the cash to fund the ETF would be initiated in October. This implies that BlackRock may be in the process of accumulating Bitcoin this month to support its upcoming spot ETF.
It's worth noting that in 2004, many analysts doubted the substantial impact of a gold ETF on gold prices when it frist launched. However, history proved them wrong as gold's value surged by 420% in the following years. An ETF listed on major stock exchanges offers accessibility to a broad range of investors. It appears that Bitcoin is poised for its moment in the spotlight.
Other News in Case You Missed it:
What's New from TokenInsight？
Crypto Exchange Report 2023Q3: Q3 saw a downward trend for the market as a whole, with the price of Bitcoin dropping from $30,000 to $27,000. So how are the exchanges doing? Let’s find out together.
Summary of Token Unlocks in 2023 Q4: We have compiled information on 12 upcoming token unlock events with unlock amounts exceeding $1 million. This information includes details such as unlock quantity, timing, amount, circulating supply, and other key data.