Oct 24, 2023

Bitcoin (BTC) is erasing some gains after surpassing $35,000. The moves comes as the ticker for BlackRock's (BLK) spot bitcoin ETF – IBTC – was removed from the Depository Trust & Clearing Corporation's (DTCC) website.

Video transcript

The chart of the day is brought to you by crypto dot com. The world's fastest growing crypto app. All right, it's time to take a look at the chart of the day. Bitcoin quickly fell by more than 3% from its perch near $35,000. Late Tuesday morning after the ticker for Black rock Spot, Bitcoin ETF was removed from the depository Trust and Clearing Corporation's website. Institutional investors have been chomping at the bit to buy Bitcoin amid the renewed optimism of a Spot Exchange traded fund being approved. K 33. Research notes that open interest for the C MS Bitcoin product hit 100,000 BT C roughly $3.4 billion for the first time ever. The CME is a venue favored by institutions K 33. Research also says CMES market shares increase to around 25% approaching that of finances perpetual market. CME is also captured an 80% market share for all traditional expiry futures. That's it for today's chart of the day. I'm J as we will see you next time to unpack more of the data behind top news stories

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