Bitcoin ETF Vanishes From DTCC Site, BTC Price Dips: Market Reacts To BlackRock's Anticipated Fund Disappearance
Portfolio Pulse from Murtuza Merchant
BlackRock's anticipated Bitcoin ETF, IBTC, has unexpectedly disappeared from the DTCC website and the Bloomberg terminal, causing a 3% drop in Bitcoin's price. This comes ahead of Benzinga's Future of Digital Assets conference. Meanwhile, the SEC has been asked to reconsider Grayscale’s application for a Bitcoin ETF, and data from the CME shows growing institutional interest in Bitcoin.
October 24, 2023 | 6:46 pm
News sentiment analysis
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NEGATIVE IMPACT
BlackRock's anticipated Bitcoin ETF has unexpectedly disappeared from the DTCC website and the Bloomberg terminal, causing a potential impact on BlackRock's reputation and future plans.
The disappearance of BlackRock's anticipated Bitcoin ETF from the DTCC website and the Bloomberg terminal is a significant event that could impact BlackRock's reputation and future plans in the digital asset space. This could potentially lead to a negative sentiment among investors, impacting the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The disappearance of BlackRock's anticipated Bitcoin ETF caused a 3% drop in Bitcoin's price. However, growing institutional interest in Bitcoin is indicated by a record $3.4 billion open interest in Bitcoin futures on the CME.
The disappearance of BlackRock's anticipated Bitcoin ETF has caused a 3% drop in Bitcoin's price, indicating a negative short-term impact. However, the growing institutional interest in Bitcoin, as shown by the record open interest in Bitcoin futures on the CME, could potentially offset this negative impact in the longer term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100