{"id":62390,"date":"2023-10-24T03:05:25","date_gmt":"2023-10-24T07:05:25","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=62390"},"modified":"2023-10-24T03:05:27","modified_gmt":"2023-10-24T07:05:27","slug":"blackrock-move-makes-bitcoin-btc-reach-35000-2023-high","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/blackrock-move-makes-bitcoin-btc-reach-35000-2023-high\/","title":{"rendered":"BlackRock Move Makes Bitcoin (BTC) Reach $35,000 2023 High"},"content":{"rendered":"\n

Bitcoin reaches a new all-time peak in 2023 as BlackRock<\/a> lists its iShares Bitcoin ETF on the DTCC platform, and U.S. court orders the SEC to review Grayscale's application.<\/p>\n\n\n\n

\"BlackRock<\/figure>\n\n\n\n

Bitcoin (BTC), the largest cryptocurrency in the world, has given a massive 12% breakout, reaching a new peak of $35,000 in 2023.<\/p>\n\n\n\n

With this development, Bitcoin's year-to-date gains have increased to over 100 percent.<\/p>\n\n\n\n

BlackRock Makes a Major Change<\/h2>\n\n\n\n

BlackRock's iShares Bitcoin Trust has recently been listed on the DTCC \u2013 Depository Trust & Clearing Corporation.<\/p>\n\n\n\n

In addition, the asset management titan intends to introduce its iShares Bitcoin ETF by the end of the month.<\/p>\n\n\n\n

All of this indicates progress toward listing the first Bitcoin spot ETF<\/a> in the United States in the coming months.<\/p>\n\n\n\n

\n

The iShares Bitcoin Trust has been listed on the DTCC (Depository Trust & Clearing Corporation, which clears NASDAQ trades). And the ticker will be $IBTC\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>. Again all part of the process of bringing ETF to market.. h\/t @martypartymusic<\/use><\/svg><\/span><\/a> pic.twitter.com\/8PQP3h2yW0<\/use><\/svg><\/span><\/a><\/p>— Eric Balchunas (@EricBalchunas) October 23, 2023<\/use><\/svg><\/span><\/a><\/blockquote>

Bitcoin is trading 12.14% higher at $34,449, with a market cap of $670 billion at press time.<\/p>\n\n\n\n

Bitcoin's market capitalization within the last 24 hours has increased by nearly $100 billion.<\/p>\n\n\n\n

Grayscale's spot Bitcoin ETF<\/h2>\n\n\n\n

The prospect of a bitcoin exchange-traded fund (ETF) has increased in light of recent news.<\/p>\n\n\n\n

However, this includes the recent development that the U.S. Securities and Exchange Commission will not appeal a court ruling finding that its denial of Grayscale Investments' application was arbitrary.<\/p>\n\n\n\n

On Monday, October 23, a federal court in the United States ordered the SEC to review Grayscale's spot Bitcoin ETF <\/a>application.<\/p>\n\n\n\n

Elliott Stein and James Seyffart, analysts at Bloomberg Intelligence, believe that the approval of a Bitcoin spot ETF is virtually inevitable, with multiple funds expected to receive approval, although the precise timing remains uncertain.<\/p>\n\n\n\n

Justin d'Anethan, head of business development for Asia-Pacific at crypto market maker Keyrock, commented on the development<\/use><\/svg><\/span><\/a>:<\/p>\n\n\n\n

\n

“Liquidity is somewhat better than before. Prices have now recuperated and with it a certain amount of liquidity \u2014 still nothing compared to the euphoria of 2020-2021, though.”<\/p>\n<\/blockquote>\n\n\n\n

Bitcoin Avoids U.S. Equities<\/h2>\n\n\n\n

The recent movement of Bitcoin and the crypto market<\/a> as a whole has been opposed to that of the U.S. equity market.<\/p>\n\n\n\n

The tumultuous bond market caused a 200-point correction in the Dow Jones on Monday.<\/p>\n\n\n\n

BTC is exhibiting hedge-like behavior by reversing its trajectory.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin reaches a new all-time peak in 2023 as BlackRock lists its iShares Bitcoin ETF on the DTCC platform, and U.S. court orders the SEC to review Grayscale’s application. Bitcoin (BTC), the largest cryptocurrency in the world, has given a massive 12% breakout, reaching a new peak of $35,000 in 2023. With this development, Bitcoin’s […]<\/p>\n","protected":false},"author":56,"featured_media":62282,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21,83,76,26],"tags":[1613,484,1520,541,4288],"class_list":["post-62390","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-bitcoin-news","category-bitcoin-price","category-cryptocurrencies","tag-bitcoin-etf","tag-bitcoin-price","tag-blackrock","tag-grayscale","tag-us-sec"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/the-financial-world-of-cryptocurrency-and-blockchain.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/62390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=62390"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/62390\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/62282"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=62390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=62390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=62390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}