The spot Bitcoin ETF from BlackRock is now listed on the Nasdaq trade settlement firm

The listing of BlackRock’s planned iShares spot Bitcoin ETF on the Depository Trust & Clearing Corporation (DTCC) indicates that the fund may soon be approved by the United States Securities and Exchange Commission.

The DTCC is an enormous portion of the monetary markets’ back-end infrastructure in the United States. It is the biggest financial clearinghouse in the world, processing stock transactions totaling an amazing $2.3 quadrillion every year. Senior analyst at Bloomberg Intelligence Eric Balchunas tweeted about the development.

The newest application update from the fund management indicates that this month might see money from a seed investor, as was reported last week. The world’s largest fund manager disclosed this potential share purchase to the U.S. Securities and Exchange Commission last week.

Balchunas theorized that BlackRock may have gotten the SEC’s approval to issue the ETF formerly or was “prepping everything assuming so.” The SEC has until January 10, 2024, based on the application date BlackRock submitted, to approve or deny the ETF.

BlackRock’s proposal is being considered by the SEC, and if it is granted, it might pave the way for many other spot crypto ETF applications, including as those from ARK Investment, Fidelity, and Valkyrie. The SEC has not yet authorized a proposal to offer Bitcoin or Ether on a spot U.S. exchange, but in October 2021, it began accepting investment instruments related to Bitcoin futures.

The largest cryptocurrency by market value saw a huge price increase in June when Wall Street firm BlackRock filed for a Bitcoin ETF. The CEO of the company, Larry Fink, has subsequently referred to Bitcoin as a “international asset” and described cryptocurrency as “digitizing gold”.