Reddit Posts
Have been holding GBTC since 2020 - Switch to different ETF now?
Does anyone know when the actual conversion takes place from buying an ETF (say IBTC) into a market buy of BTC?
IBTC Ticker for Blackrock's iShares Bitcoin ETF appears once again on the DTCC website after being briefly removed earlier today. GLTA!!!
IBTC Ticker for Blackrock's iShares Bitcoin ETF appears once again on the DTCC website after being briefly removed earlier today. GLTA!!!
Guys, this is 23:04 UK time 🇬🇧. IBTC ticker is back on DTCC site. Trust me, but verify. Moon
BlackRock Bitcoin ETF "IBTC" Listed On Nasdaq Clearing Agency
BlackRock's spot bitcoin ETF appears on DTCC website with ticker IBTC
BlackRock's spot bitcoin ETF appears on DTCC website with ticker IBTC
Can someone verify this ? BlackRock's spot bitcoin ETF appears on DTCC website with ticker IBTC
Blackrock IBTC first bitcoin etf ticker listed on DTCC
Mentions
FBTC, IBTC, GBTC, ETHE Those are the top 4 funds available via stock market options to invest into the crypto markets. After that it gets much more complicated.
Coinbase if you use Coinbase Pro. Fidelity if you use an ETF such as FBTC, IBTC or GBTC.
I hear you about not wanting to borrow with young crypto startups. But now we have ETFs. Fidelity has FBTC. Blackrock has IBTC. Grayscale has GBTC. You can use E-Trade/Morgan Stanley, Ameritrade/Schwab, or Fidelity to get a margin loan against those bitcoin ETFs. I don't think any of those big brokerages will close shop. Coinbase, while young, is used by massive players (IBTC and GBTC) to hold their own clients' BTC.
GBTC stands for grayscale bitcoin trust. It was created before the ETFs were approved. It has always carried a very high management fee, starting at 2% and now being dropped to 1.5%. By comparison, some of the ETFs are offering a 0% management fee for the first year, and many are settling at 0.25%. Many people are choosing to sell their GBTC shares to then re-buy BITB, IBTC, HODL, FBTC, ARKB and others. One thing that is holding some of them back, is that they will have to realize a capital gain on their GBTC shares, that is if they are selling for a higher amount than what they paid, they will have to pay capital gains tax if the shares were not held in a tax deferred account such as a 401(k), HSA, Roth, or Roth IRA. Grayscale had to make a difficult decision when choosing their management fee. If they lowered it to match the new competitors, very a few people would exit, but they would be making a lot less money. If they kept it very high at 2%, it could be assumed that a large number of people would leave. It looks like they chose to keep the fee fairly high, while lowering it enough to deter some customers from leaving because of their capital gains expenses. What we have been seeing here is an outflow from GTC, some of that profit needing to go towards paying taxes, and hypothetically a majority of that money coming back into one of the new ETFs with a lower management fee. Hopefully some of these people are even choosing to buy bitcoin and self custody it to avoid management fees and expenses entirely. For anyone who is considering this path, please consider Sean, Kraken, and Strike. Grayscale also announced on March 12th that they are creating a “Mini Bitcoin Trust” that will charge lower management fees. The details of this trust have not been released, but the goal may be to keep some of the exiting clients as customers of this new fund that will trade under the ticker BTC, instead of having them go to the competing ETFs. Here is a news article with more details on that: https://news.bitcoin.com/grayscale-aims-to-launch-mini-bitcoin-trust-for-lower-fees-and-tax-benefits/ For anyone who is content on purchasing a bitcoin ETF instead of bitcoin directly, consider the bitwise ETF with ticker symbol BITB because they have published the digital wallet address showing all of the bitcoin that they custody. Here is an article with further details https://www.theblock.co/post/274359/bitwise-publishes-digital-wallet-addresses-with-bitcoin-holdings-for-spot-etf
Inflow is very impressive indeed. But Grayscale isn’t selling, it isn’t an entity that sells. Institutions that had large Grayscale positions are transfering to Blackrock mostly. You can see in the quiet days the Grayscale outflow and IBTC inflow line up quite well
Really curious to see the Super Bowl commercials tomorrow. Hoping there’s a really memorable IBTC commercial in there to get people talking.
Don’t buy this logic, you could sell your IBTC stack anytime and buy actual BTC on an exchange. At least the ETFs don’t charge 50bps per transaction
That's an option... Orrrrrrrrrr - open an account with Fidelity, move your IRA, buy FBTC, IBTC, HODL . Invest 15 mins and securely done. Fidelity can have my keys and coins - I'm okay with that. Thanks Fidelity.
Correction Blackrocks ticker is IBIT not IBTC.
GBTC - Grayscale ARKB - Ark / 21Shares IBTC - Black Rock BITB - Bitwise HODL - VanEck? BTCW - WisdomTree BTCO - Invesco / Galaxy FBTC - Fidelity BRRR - Valkyrie DEFI - Hashdex
Bold of them not to put BTC in the ticker symbol given people will search for BTC in their trading apps and will find GBTC, FBTC and IBTC but not HODL.
Not surprising since JP Morgan stands to lose money to competitors if people start pulling money from JEPI and putting it into IBTC
Ok. I got it now. So, an ETF can be a bundle of stocks (e.g. SPY for every stock in the S&P500), but it can also be something like GLD which is shares that only represent claims on physical gold in a vault somewhere. IBTC, the Blackrock ETF is like the latter, so you're correct, it's only Bitcoin. And if that doesn't give you enough comfort, it is a spot ETF, so the terms of the prospectus require them to have custody of Bitcoin in the proportion to what the shares represent. If people buy more shares than they sell, Blackrock has to buy BTC or they can't issue more shares. That's all the ETF can do, by law. None of that really matters all that much in the scope of your question, because anyone (including Blackrock's proprietary trading desk, though only outside of the ETF) can manipulate the price by shorting BTC <if> they have enough capital to put up. The good thing is that shorting is riskier than going long stock in general, because the most you can lose when long is your investment (100%), but going short you can lose more than your investment if the stock goes up by more than 100%, which BTC certainly does. Going short is technically a leveraged position because you "borrow" the BTC to short it. And speculators on leverage are routinely liquidated, which is often the cause of the sudden explosive moves you see in price. Basically that was people "holding" the price ... until it failed. If you want to look into it, you can do some more research, but basically your concern already exists in the market without IBTC and no one is able to hold BTC price at any one level for a long time without potentially risking <enormous> losses of money if everyone else wants the price to go up (or down).
Yes but what does IBTC showing up even mean? legally, procedurally, why should we care? To me it's just it'll be listed some day
Nobody is going to be giving out 100% LTV loans against IBTC (or any other Bitcoin ETF).
IBTC is still on the list..
That doesn’t make sense. Rich guy buys $400 million in IBTC. It’s volatile and maybe he can borrow 50% of that and also be subject to margin calls. Bank doesn’t get to lend 10x more, it lent $200 million on risky collateral and that’s it. is Rich guy really gonna lever up BTC like a degen?
tldr; BlackRock's proposed iShares Bitcoin ETF, known as IBTC, reappeared on the Depository Trust and Clearing Corporation (DTCC) website after briefly disappearing. The sudden withdrawal and reappearance of the ETF caused fluctuations in Bitcoin's value. The unexpected removal of BlackRock's ETF comes ahead of Benzinga's Future of Digital Assets conference, where the implications of such developments on the future of digital currencies will be discussed. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
IBTC ticker is now back?? what's going on over there
IBTC = Itty Bitty Titty Committee? I’m confused. 😂
I just checked the link to the list, IBTC is still there.
My guess is that if the SEC wants to approve all ETF at the same time, they likely would want everyone to publish their tickers at same time too. Now everyone will first think of IBTC instead of say GBTC...
BlackRock is indeed planning to list a new Bitcoin ETF. The proposed ETF, known as the iShares spot Bitcoin exchange-traded fund (ETF), has been given the ticker symbol IBTC12. This is a separate fund and will not be added to the current stocks/ETFs that BlackRock owns.
There's a coin called IBTC on basechain & eth going parabolic, so far it has gone up 5000%
Lol had to scroll to the moon man. To find IBTC not in place.
blackrock BTC ETF (IBTC): buy the rumor, sell the news....still a rumor, time to FOMO
it looks like it will be a new ETF with the ticker IBTC
they don't really care if you sell your $300 dollars worth of btc. ok fine i know it's closer to $400. anyways, an etf is for folks with several hundred million to allocate. traditional finance knows how to handle etfs. so player a buys $400 million in IBTC and then borrows $400 million against his holdings so he can go to a real casino in the Maldives. the bank is stoked because they just type in $400 million into their computer and they get to lend against that 10x (which is not even the reserve requirement anymore btw) so they just created **$40 billion** in loans off of one deposit, and they get to collect 6% interest on every bit of that money that did not even exist before 15 seconds ago. the bitcoin market cap ($660 billion) just went up 10% in a week, and there isn't even an etf yet. this is gonna make the dot com bubble look like farting in the community swimming pool. trillions printed out of thin air, and they (the 'ye' they) get to pay themselves first for doing it. that's what this is about. little to do with owning bitcoin. although eventually they'll run out and get the great idea that well... we did so well with the bitcoin and eth spot etf's... what if we did one for litecoin, doge, cardano, axie infinity and umm.... shiba inu, fuck it, look we're building the web3 economy, the new york times will tell you so. i used to be a bartender, now i own a boat. and i'm not driving a 7 series, without strippers.
Is it though? I mean, it's come down a little after a mega pump. But attributing that to the IBTC being removed from a list is a reach. It would have happened anyway.
JUST IN: The ticker for BlackRock's spot #Bitcoin ETF, $IBTC, has just been removed from the DTCC website. https://www.dtcc.com/products/cs/exchange\_traded\_funds\_plain\_new.php
Does anyone know if IBTC will have advantages over GBTC if they were approved on the same day? Would that reflect in returns or price action to owners of those shares? Same question but if IBTC or GBTC is approved before the other?
Blackrock got a ticker IBTC, approval imminent
Not likely for retail investors, but that would probably be a taxable event anyway to convert BTC to IBTC because they are not the same.
tldr; BlackRock's proposed spot bitcoin ETF, the iShares Bitcoin Trust, has appeared on the Depository Trust and Clearing Corporation (DTCC) website with the ticker IBTC. This is the first spot ETF listed on DTCC, indicating that approval from the Securities and Exchange Commission (SEC) may be imminent. The SEC is currently reviewing around 12 spot bitcoin ETF applications, including those from BlackRock, Grayscale Investments, Fidelity, and WisdomTree. The anticipation of approval has caused the price of Bitcoin to surge, reaching its highest level in over a year. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Post got removed due to coin limits, so it is now reposted. tl;dr: BlackRock’s proposed spot bitcoin ETF, the iShares Bitcoin Trust, turned up on a list maintained by the Depository Trust and Clearing Corporation with the ticker IBTC. The SEC has yet to approve a spot bitcoin ETF. "This is first spot ETF listed on DTCC, none of the others on there (yet)," Bloomberg senior ETF analyst Eric Balchunas wrote in a thread on X. "Def notable BlackRock is leading charge on these logistics (seeding, ticker, dtcc) that tend to happen just prior to launch. Hard not to view this as them getting signal that approval is certain/imminent."
It is Eric Balchunas post on X u/EricBalchunas The iShares Bitcoin Trust has been listed on the DTCC (Depository Trust & Clearing Corporation, which clears NASDAQ trades). And the ticker will be $IBTC. Again all part of the process of bringing ETF to market.. h/t
The iShares spot Bitcoin-ETF from investment giant BlackRock has received CUSIP\* number 46438F101 Proposed NASDAQ Symbol: IBTC Seed creation basket should be filled this month \*CUSIP - Committee on Uniform Securities Identification Procedures. The CUSIP number identifies most financial instruments
Blackrock's BTC ETF just added a ticker $IBTC. Sign approval is coming.
tldr; BlackRock's proposed spot bitcoin ETF, the iShares Bitcoin Trust, has appeared on the Depository Trust and Clearing Corporation (DTCC) website with the ticker IBTC. This is the first spot ETF listed on DTCC, indicating that approval from the Securities and Exchange Commission (SEC) may be imminent. The SEC is currently reviewing around 12 spot bitcoin ETF applications, including those from BlackRock, Grayscale Investments, Fidelity, and WisdomTree. The anticipation of approval has caused the price of Bitcoin to surge, reaching its highest level in over a year. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
BlackRock’s proposed spot bitcoin ETF, the iShares Bitcoin Trust, turned up on a list maintained by the Depository Trust and Clearing Corporation with the ticker IBTC. The SEC has yet to approve a spot bitcoin ETF.
Apparent reason for this pump: The iShares Bitcoin Trust got registered with DTCC (Depository Trust & Clearing Corporation, which clears NASDAQ trades). And the ticker will be $IBTC. ([source](https://twitter.com/Krypto_Cheff/status/1716547938468388885)). That's being interpreted as ETF approval by the market, however [Adam Beck says](https://twitter.com/adam3us/status/1716586640972337244) to be cautious and doesn't believe the ETF is going to be approved just yet.
BlackRock’s spot bitcoin ETF appears on DTCC website with ticker IBTC.
BlackRocks iShares trust is now listed on the depository Trust & Clearing Corporation with ticket $IBTC
I thought IBTC stands for Itty Bitty Titty Committee, no?
"NEW - BlackRock's iShares #Bitcoin Trust is now listed on the Depository Trust & Clearing Corporation with the ticker $IBTC"
yep, IBTC. Probably being seeded. Launch is likely imminent.
This is is an indication that IBTC Bitcoin ETF will be approved. Probably soon. But no guarantees.
🚨 BIG BREAKING IN CRYPTO SPACE 🚨 @EricBalchunas reports BlackRock's spot #Bitcoin ETF has been listed on the Depository Trust & Clearing Corporation - which handles NASDAQ trades. $IBTC will be the ticker symbol . 👀👀👀👀👀🔥🔥🔥🔥🔥
Breaking: dtcc lists @blackrock iShares Spot Bitcoin ETF 👀 They settle and clear NASDAQ trades!!!! $IBTC on NASDAQ (when idk) 300k whole coiners max probably, be better than fiat always that system has caused much pain https://twitter.com/martypartymusic/status/1716502677239259343?s=46&t=ihVglVXC0BQSbw6j57EoaA
🚨🚨🚨🚨 Big rumour : Breaking: dtcc lists @blackrock iShares Spot Bitcoin ETF 👀 They settle and clear NASDAQ trades!!!! $IBTC on NASDAQ Source X / Twitter Take this with a grain of salt.
tldr; An application has been filed for Australia's first fully-licensed spot bitcoin ETF under new regulatory guidelines. The application was filed by bitcoin-focused asset management firm Monochrome in partnership with Vasco Trustees. The Monochrome Bitcoin ETF (IBTC) aims to provide regulated exposure for retail investors. This marks the first filing for a spot bitcoin ETF on the Australian Securities Exchange (ASX) under the licensing regime with crypto provisions. The Australian Securities and Investments Commission (ASIC) revised its rules for the Australian financial services (AFS) license in October 2021 to enhance investor protections and promote market transparency. The rules require institutional support and acceptance of the underlying crypto for a spot ETF to be approved. Currently, there are only two AFS licensees with retail crypto-asset license authorization. Another bitcoin ETF attempted to be the first in Australia last year but was delisted due to lack of interest. The Monochrome Bitcoin ETF is authorized under the 'crypto-asset' licensing category, allowing it to hold bitcoin directly on the fund level. The CEO of Monochrome expressed confidence in a positive outcome for the application. Renewed interest in spot bitcoin ETFs has also been seen in the US, with major institutions filing for them. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Blackrock doesn’t care about the direction of prices short term. They care about volume of assets. They want more NAV so they get more fees. They would prefer generally more money to flow into their managed assets. I don’t buy the conspiracy theories here. Follow the money. BLK makes money with more money in bitcoin with an ETF. Binance is going down, Coinbase is being sued. Blackrock smells an opportunity. Bitcoin can already be shorted in size on CME. A spot bitcoin ETF has to be arbed with physical more frequently than the CME futures, so it would be tied to the chain more directly than anything else. The amount of money potentially allocatable into an IBTC ETF is tremendous. Conventional asset allocators using even 1% is important.
If they want a crypto ETF it’s because they want to sell a crypto ETF. I don’t think there is anything more than that. Very likely it will be bitcoin only as that’s the only one guaranteed to never be a SEC security and have enough institutional demand. It would be directly parallel to the first gold ETF, which immediately increased the market for gold as a financial asset. I don’t think they want to screw over the crypto market. They are like the management of a casino. They don’t care which games people play, as long as they have all of them that people want and they take their vig. They do care if people leave their casino and go to the underground one. they’re making 0.03 percent on IVV (iShares sp500 etf), would love to make 0.40 on IBTC Blackrock could set up a bitcoin exchange to compete against coinbase and be used by the authorized participants which arb the ETF, so they get money both ways.