At least according to Microsoft :-)
Why has UTC been designated the official acronym for Coordinated Universal Time?
Before 1970, Greenwich Mean Time was the correct term for time with no time zone offset. In 1970, the International Telecommunication Union (ITU), comprised of a group of international technical experts, devised the coordinated universal time (UTC) system. The ITU wanted a single abbreviation for Coordinated Universal Time in order to minimize confusion caused by language barriers. Because members of the ITU could not come to a unanimous agreement on either the English acronym (CUT) or the French acronym (TUC), the acronym UTC became the agreed-upon compromise.
Comment: Aaargh!
utc.html