Bullish, sure, but it stinks of corruption. BlackRock's spot ETF is already listed on the DTCC(Nasdaq clearing firm) and only one listed. But we already knew that since the SEC always approves BlackRock's ETF's, but has denied everyone else's spot ETF so

BalckRock's spot ETF that they proposed in June is still under review by the SEC. And yet, the ETF has already been listed by the DTCC, who function as a clearing agency(basically verify trades are properly completed) for NASDAQ security/stock trades. This would mean they are just (logistically) one half-step away from actually having the spot ETF available to traders, even though the SEC hasn't yet approved it.

Now there's nothing actually wrong with it being listed, it's just that there'd be no point to using time, money, resources and risking reputation to list a security/ETF that could potentially be denied by the SEC especially since all spot ETF's have been denied thus far. But of course this is BlackRock. BlackRock's record of ETF approval-denial by the SEC is 575-1, such that them even applying for it basically made it a done deal. Either BlackRock has influence over the SEC for them to change their decision-making process or have insiders who are fed info from the SEC to inform them how to have their applications approved, or both. There are a much less dark option that BlackRock are just that good...but let's be real.

As a professional opinion, Bloomberg ETF analyst Eric Balchunas said on Twitter(X?) that it is the first listing of any spot ETF and this move was likely BlackRock receiving the green light from the SEC and that this listing was just part of the process and them getting ready to go for when approval is official. (check out the whole thread on his page).

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https://preview.redd.it/1kgz7bd4k5wb1.png?807&format=png&auto=webp&s=7eee93ff33e859e7ac1de2ccfec30794990e2016

Either way, this just all looks super fishy. Great for Bitcoin I guess but Bitcoin won't be great when all the big money players own almost all of it.