DTCC: Listing of planned BlackRock bitcoin ETF ‘not indicative’ of approval

The iShares Bitcoin Trust — a proposed product the SEC is considering — first appeared on the list in August, DTCC spokesperson says

article-image

Tada Images/Shutterstock, modified by Blockworks

share

The listing of BlackRock’s proposed bitcoin ETF on the Depository Trust and Clearing Corporation website appeared to fuel more optimism that approval of such funds is imminent.

But the inclusion of ETFs that have not yet gained regulatory approval is nothing out of the ordinary, according to DTCC, which processes trillions of dollars in securities transactions daily. 

Bloomberg Intelligence analysts, and others, pointed out in X posts Monday the iShares Bitcoin Trust (IBTC) — first proposed to the Securities and Exchange Commission in June — was on the DTCC list. This spurred speculation from some that the planned fund’s launch was imminent.

But it is “standard practice” for DTCC to add securities to its “eligibility file” in preparation for new potential ETF launches, a spokesperson for the financial market infrastructure giant told Blockworks late Tuesday.

The names in the file — kept by DTCC subsidiary National Securities Clearing Corporation (NSCC) — include active and potential ETF securities. The proposed BlackRock offering was first added to the list in August, according to DTCC. 

“Appearing on the list is simply an indication that an agent bank has requested a DTCC identifier for an ETF fund, and that DTCC may process that transaction at an undetermined date in the future following SEC approval,” the DTCC representative said in an email.

The proposed fund’s inclusion on the list is “not indicative of an outcome for any outstanding regulatory or other approval processes in respect of a particular ETF fund,” they added.

IBTC disappeared from the list briefly Tuesday before showing up again later on — a change the DTCC spokesperson declined to comment on.

BlackRock has declined to comment on the listing. 

The SEC has never permitted a spot bitcoin ETF to begin trading, blocking attempts from issuers that span back a decade. 

Bitcoin was above $34,000 Wednesday morning — up roughly 20% from a week ago — amid optimism that bitcoin ETFs could start trading in the coming months.  

Read more: Another would-be bitcoin ETF player: ‘It’s going to get approved’

Fund issuers in recent weeks have been updating bitcoin ETF applications, which industry watchers say signals ongoing dialogue with the SEC.

Grayscale Investments said Monday the firm intends “to move as expeditiously as possible” to convert its Bitcoin Trust (GBTC) to an ETF after the court formalized its legal victory over the SEC that day.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates.png

Research

The convergence of DePIN and energy generation aims to address modern grid challenges by incentivizing distributed generation.

article-image

The deal is made up of $700 million in cash and 11 million shares of Coinbase’s Class A common stock

article-image

Blockworks Research uses numbers to help crypto advance to a higher stage of storytelling

article-image

While Arizona’s governor could veto another crypto reserve bill, similar North Carolina and Texas laws are approaching the finish line

article-image

However, they noted there’s now an increased risk that unemployment and inflation will rise in the coming months. 

article-image

The network’s most ambitious upgrade since the Merge brings validator streamlining, smart account UX and doubled blobspace to Ethereum