BlackRock iShares Spot Bitcoin ETF

BlackRock's iShares Spot Bitcoin ETF is now listed on the Depository Trust & Clearing Corporation with the ticker IBTC. https://www.dtcc.com/charts/exchange-traded-funds

This is BIG news and lots of inflows likely now.

Here was the impact on Gold when the first ETF was launched back in 2003:

According to a meeting memorandum dated Dec. 14, filed with the SEC, staff from the Office of the Chair met with three individuals from Blackrock. The memorandum details: “The discussion concerned the Nasdaq Stock Market LLC’s proposed rule change to list and trade shares of the Ishares Bitcoin Trust under the Nasdaq Rule 5711(d).” Once approved, Blackrock’s spot bitcoin ETF will trade under ticker IBTC.

Bloomberg’s senior ETF analyst Eric Balchunas commented on X Friday:

Gensler’s staff met with Blackrock yesterday to talk IBTC but it wasn’t normal crew, more public policy folks including Blackrock’s Public Policy Director Ben Tecmire who by the way used to be senior counsel at the SEC’s Division of Investment Management.

Another Bloomberg analyst, James Seyffart, pointed out on X that Blackrock is not the only company meeting with the SEC’s Office of the Chair, noting that Hashdex, another company seeking approval to launch a spot bitcoin ETF, did the same in November.

Before the latest meeting, Blackrock met with the SEC on Nov. 20, Nov. 28, and Dec. 11 regarding its spot bitcoin ETF filing.

Definitely an interesting development! Blackrock's repeated meetings with the SEC, especially with experienced individuals like Ben Tecmire involved, suggest we might be closer to seeing a spot Bitcoin ETF. Curious to see how this unfolds!

BTC back to $47K. Certainly surprises me, and I keep waiting for the ETF-trade to ebb but it never does. I'm prepared to be shocked if BTC hits new highs.

Mining reward halving in April 2024. BTC will see new all-time highs 12 to 18 months after halving.

BlackRock’s Bitcoin ETF (IBIT) Clears Final SEC Hurdle

January 10, 2024 05:28 PM Eastern Standard Time
NEW YORK--(BUSINESS WIRE)--The registration statement for BlackRock’s spot bitcoin ETF, the iShares Bitcoin Trust (IBIT), has been declared effective by the U.S. Securities and Exchange Commission (SEC). IBIT seeks to track the price of bitcoin and is expected to begin trading on Nasdaq on January 11, 2024.

https://www.businesswire.com/news/ho...nal-SEC-Hurdle

Day 1 Net flows sit at $625 million for all spot Bitcoin ETF’s that launched yesterday.

Day 2 inflows
https://www.ishares.com/us/products/...-bitcoin-trust

Blackrock's Bitcoin ETF now holds over $1 billion in Bitcoin.

https://www.ishares.com/us/products/...-bitcoin-trust

Total net inflow of $33.1m on day 6 of trading.

Blackrock's Bitcoin ETF now holds over $2 billion in Bitcoin.

https://www.ishares.com/us/products/...-bitcoin-trust

Consistent accumulation

Craziness! And you're still long??!?

Yessir!!! I’ve never been more bullish since entering the trade in 2013.

When are you getting out though?!? You gotta close the deal at some point!
I first heard about bitcoin in a penthouse at Palms Las Vegas, from a friend of yours. When was that, and who was that?

I remember asking him "what's the incentive for mining?" and he couldn't answer. I made a note of it and researched when I got home. Within a couple weeks I was buying BTC off craigslist.com, and then Mt Gox a few weeks after.

That was April 2013. I was so faded I missed that conversation with Botand.