Bitcoin's Price Takes a Hit: BlackRock's IBTC ETF Disappears from DTCC's Website

Bitcoin (BTC) saw a sudden drop of over 3% as its price, hovering around $35,000, took a hit late Tuesday morning when the ticker for BlackRock's spot bitcoin ETF, known as IBTC, was removed from the Depository Trust & Clearing Corporation's (DTCC) website.

(Source: Blockonome)

The appearance of IBTC's ticker on the DTCC's website the previous day had set off a flurry of speculation among investors. Many were hopeful that this could signal an imminent approval for a spot bitcoin ETF.

This optimism played a significant role in Bitcoin's recent surge from the $30,000 range to well over $35,000.

Market data sourced from the Chicago Mercantile Exchange (CME) revealed that open interest in bitcoin futures reached an all-time high of $3.4 billion on Monday.

This surge in open interest indicates a growing appetite among institutional investors for Bitcoin. As of the latest check, Bitcoin was trading at $33,600, marking an increase of more than 8% over the past 24 hours.