BlackRock’s proposed Bitcoin spot ETF iShares Bitcoin Trust (IBTC) has been relisted by the Depository Trust & Clearing Corporation (DTCC). This and more news in this handy daily summary so that you are always informed with the most recent events that occur within the crypto world.
DTCC adds IBTC to its eligibility list
📍‌BlackRock's Bitcoin spot ETF has been included in the DTCC's eligibility list. The DTCC, the US-based post-trade financial services company, has re-listed BlackRock's iShares Bitcoin Trust (IBTC) on its list.
IBTC had been listed by the company on Monday, October 23. However, in less than a day, it was delisted by the DTCC.
Now, BlackRock’s proposed Bitcoin Spot ETF is back on the DTCC’s list, this time as part of the company’s eligibility list.
Reuters reported that this listing actually took place in August and is a common practice by the DTCC, so it is not indicative of regulatory approval. Still, these actions have rekindled investor interest in Bitcoin, which is reflecting a price rise today of almost 20%.
Bitcoin continues to trade above $34.000 per unit, a level it has not seen since May of last year.
Source: CoinMarketCap
Although the rally experienced by the price of Bitcoin on Tuesday has moderated following the announcement of a lawsuit filed by the Securities and Exchange Commission (SEC) against BlackRock, in a case involving Aviron's investments, Bitcoin continues to excite many investors, who await the opportunity to access the important cryptocurrency through regulated exchanges.
Ark Invest's Bitcoin spot ETF also gets DTCC listing
📍‌ARKA, the ticker under which the Ark Invest spot ETF was listed by the DTCC. In addition to BlackRock’s iShares Bitcoin Trust (IBTC), Ark Invest’s proposed Bitcoin spot ETF, called “ARK 21Shares Bitcoin ETF,” has also made it to the DTCC listing under the ticker ARKA.
Source: DTCC
It should be noted that the listing of these two Bitcoin spot ETFs by the DTCC does not mean that they have been approved by the SEC. However, it comes at a crucial time for Bitcoin and cryptocurrencies.
Based on the events surrounding the Bitcoin spot ETF in the United States, the largest private investment bank in the country, JPMorgan, indicated that the approval of this investment vehicle is imminent, making it clear that it is a question of when and not if it will be approved.
Ledger launches Recover, its controversial key recovery feature
📍‌Ledger's hardware wallet now includes a facial recognition feature to make it easier to recover a wallet's private keys. Ledger has enabled the Recover private key recovery feature, which involves facial recognition to access a wallet’s secret recovery phrase in case the user loses it.
Ledger's goal with this new feature is to improve the experience for non-native crypto users, who may find the concepts of self-custody, private keys, and seed phrases complicated.
However, as it is a feature that requires users to provide private personal data, it has been heavily criticized in the crypto community.
Asking for personal data and enabling facial recognition on the hardware wallet breaks all security guarantees provided by cold storage of cryptocurrencies, wrote cryptocurrency researcher and privacy and decentralization advocate Chris Blec on the social network X.
Ledger had first announced Recover in May. However, this key recovery service generated great controversy in the crypto community, which is why the company was forced to postpone its launch.
🚨Breaking news: BlockFi emerges from bankruptcy🚨
📍‌Cryptocurrency lending company BlockFi has emerged from bankruptcy. The company announced this on Tuesday via its social media.
In the statement, BlockFi says its bankruptcy plan has been effective and that it has managed to emerge from bankruptcy as of Tuesday, October 24, 11 months after filing for bankruptcy.
BlockFi also said that withdrawals are now enabled for nearly all of its customers on the BlockFi Wallet and that liquidation will begin as outlined in the bankruptcy plan. “We aim to begin initial distributions in early 2024,” the company said in the official statement.
Initial distributions of available assets from the liquidation estate will commence on a schedule to be established by the company, with subsequent distributions dependent on a number of factors, including the recovery of FTX and its subsidiaries, it said.
Continue reading: Bitcoin surges today on possible BlackRock ETF approval
IMPORTANT: The content of this article is for informational purposes only and, in no case, what is written here should be taken as investment advice or recommendations. Bit2Me News reminds you that before making any investment you should educate yourself and know where you invest your money, as well as the pros and cons of the system. We separate ourselves from the actions and consequences that ignorance may entail. If you decide to invest in this or another asset class, you are solely responsible for the consequences that your decisions and actions may have.
