The Depository and Clearing Corporation (DTCC) recently removed BlackRock’s spot Bitcoin ETF iShares Bitcoin Trust. The day before, the ETF was listed and registered on the DTCC under the trading code IBTC, which was seen as a signal that BlackRock may have received approval from the U.S. Securities and Exchange Commission (SEC).

Eric Balchunas, senior ETF analyst at Bloomberg, speculated that IBTC may have been withdrawn from the DTCC because BlackRock was notified by the SEC to do so, or the company did so on its own initiative. The reason may be that it hopes to register on the DTCC a few days before approval. Rather than weeks or months in advance.

It is worth noting that the BlackRock Spot Bitcoin ETF has been registered with the Nasdaq Exchange and Clearing Corporation. The market will pay close attention to the subsequent development of this incident.