Related StoriesSurviving a Horrible Year: Crypto Currencies Are Down but Not Out10/19/2023Australian Government Moves to Regulate Crypto and Digital Assets10/17/2023 In the wake of the news, Bitcoin’s price spiked on Oct. 23, gaining more than 10 percent in value from $31,000 to over $34,000. According to the crypto market analysis website Coingecko, it soon surpassed $35,000. At the time of writing, the digital assets price has settled to around $34,700. In an Oct. 23 fund flows report from asset management firm CoinShares’s head of research, James Butterfill noted that cryptocurrency had seen its fourth week of inflows, likely connected to the speculation around BlackRock’s ETF. A man conducted a transaction at a cryptocurrency shop in Hong Kong, on Nov. 21, 2022. (Sung Pi-Lung/The Epoch Times) Bloomberg ETF analyst Eric Balchunas said in an Oct. 23 post on X, the platform formerly known as Twitter, that the DTCC listing was “all part of the process” of bringing a crypto ETF to market. Mr. Balchunas further speculated that BlackRock might have already got the “green light” to proceed with the ETF, or was in the process of “prepping everything assuming so.” Analyst and finance lawyer Scott Johnson also speculated on X about what the DTCC listing could mean. “They’ve obtained a CUSIP in prep for a launch,” or Blackrock might be “looking to seed with cash this month,” he said, adding that it might be nothing. Bitcoin ETF Not Approval Just Yet DTCC addressed the ongoing speculation, telling Reuters on Oct. 25, that the ETF appearing on the eligibility list is not “indicative of an outcome for any outstanding regulatory or other approval processes.” It also revealed the Bitcoin ETF had been added to the list in August as a “standard practice.” “I think it indicates Blackrock is getting everything ready to launch if and when they get an SEC approval. And that the N just means it’s not open for create redeem because it’s not live yet,” Mr. Seyffart said on X. Attendees pose for photos in front of The Miami Bull during the Bitcoin 2022 Conference at Miami Beach Convention Center on April 7, 2022. (Marco Bello/Getty Images) Grayscale submitted a new application with the SEC for a spot Bitcoin ETF on Oct. 19, intending to list the shares of a Grayscale Bitcoin Trust on the New York Stock Exchange after winning an earlier court case to have the SEC’s initial denial reviewed.
Bitcoin Price Spikes Amid Speculation About ETF Regulatory Approval
