Blackrock’s iShares Bitcoin Trust were briefly listed on the DTCC (Depository Trust & Clearing Corporation which clears NASDAQ trades) under the $IBTC ticker. The market took it is a sign that Blackrock is confident that its exchange-traded fund (ETF) will be approved and Bitcoin spiked up by over 15% before giving back some of those gains when the ticker was removed. The market was also excited by the latest amendment to the iShares Bitcoin Trust prospectus revealing that Blackrock planned to start seeding. Seeding an ETF is when “initial funding” is provided to purchase a few creation units, which in this case would mean Bitcoin in exchange for ETF shares which can be traded in the open market as soon as the ETF is approved and launched. [Read more on X]
*For those interested in intra-day updates, check out my searchable Diigo Fintech developments database, which is also a good place to go to query for past developments: https://www.diigo.com/user/kiffmeister/ART.
Kiffmeister’s central bank digital currency monthly monitor
Just a reminder that I produce a monthly digest of central bank digital currency (CBDC) developments exclusively for the official sector. So (only) if you work at a central bank, ministry of finance or international financial institution (e.g., the BIS, IMF, OECD, World Bank) and who would like to receive it by email on the first business day of every month, please DM me on LinkedIn or email me at firstname.lastname@example.org
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