BlackRock's Bitcoin ETF Sparks Market Movement and Mystery on DTCC Site

The inclusion and subsequent removal of BlackRock's proposed ticker for its spot bitcoin ETF on the Depository Trust & Clearing Corp.'s website caused a surge and then a slump in the price of bitcoin. However, it was revealed that the ETF had actually been on the website since August, and its presence does not indicate regulatory approval. The appearance of an ETF on the website is part of the preparation process, and it is standard practice for DTCC to add securities in anticipation of a new ETF launch.