Bitcoin ETF Approval Draws Close: BlackRock Makes a New Move

Bitcoin ETF Approval Draws Close: BlackRock Makes a New Move

Investment Bitcoin ETF

By Miles

23 Oct 2023 (7 months ago)

1 min read

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BlackRock is preparing for a new Bitcoin fund in the US. It's the first of its kind and might launch soon, causing buzz in the financial world.

BlackRock, the world's biggest money manager with $10 trillion, plans to start a new Bitcoin fund in the US.

They've listed their new fund called iShares Bitcoin Trust on DTCC, a big company that checks trades on the NASDAQ exchange. This new fund will be known as IBTC.

Even though the name IBTC might sound simple, it fits BlackRock's style and might attract rich clients.

An expert, Eric Balchunas, said this is the first fund of its kind on DTCC. He believes BlackRock is getting ready to launch very soon. Many wonder if they know that it will be approved.

Some think BlackRock got a hint about the approval. But Balchunas thinks several similar funds will probably be approved at the same time.

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