Bitcoin's price rose back above $34,000 in a bouncy day of trading on Tuesday as BlackRock's proposed spot bitcoin ETF disappeared from a list maintained by the Depository Trust and Clearing Corporation only to reappear later in the evening. 

DTCC provides post-trade clearance, settlement, custody and information services for Nasdaq, and many industry watchers interpreted the initial appearance of BlackRock's iShares Bitcoin Trust fund on the list as a sign that potential approval from the Securities and Exchange Commission might be one step closer. The world's largest cryptocurrency by market capitalization surged to $35,000, the highest level since May, 2022.

After the BlackRock fund disappeared from the list Tuesday morning, bitcoin pared some of its gains, and the DTCC's website appeared to crash from all the attention. 

DTCC says addition to list is 'standard practice'

A DTCC spokesperson said in an emailed response to questions that it's "standard practice" for it to "add securities to the NSCC security eligibility file in preparation for the launch of a new ETF to the market."

"The names in the file include active and potential ETF securities. Appearing on the list is simply an indication that an agent bank has requested a DTCC identifier for an ETF fund, and that DTCC may process that transaction at an undetermined date in the future following SEC approval," the spokesperson continued.

"Appearing on the list is not indicative of an outcome for any outstanding regulatory or other approval processes in respect of a particular ETF fund," they added. "BlackRock's iShares Bitcoin Trust ETF was added to the file in August 2023. We look forward to supporting our clients as they add offerings, and the digitization of financial markets continues."

'Intensity of this entire saga'

"DTCC is def not used to this kind of attn or action, it lives behind scenes, very boring. Speaks to the uniqueness and intensity of this entire saga," Bloomberg Senior ETF Analyst Eric Balchunas wrote earlier in the day in a post on X.

BlackRock declined to comment when contacted by The Block. 

Bitcoin's price rose 7.2% over the past 24 hours to $34,125 at 6:14 p.m. ET, according to CoinGecko. It's risen 19.7% over the past week.

The SEC has yet to approve a spot bitcoin exchange-traded fund.

(Updates with comments from DTCC throughout.)