BlackRock, the world’s leading asset manager, has designated four institutional giants, including Goldman Sachs, Citi, UBS, and Citadel, as authorized participants (APs) for its spot Bitcoin exchange-traded funds (ETFs), iShares Bitcoin Trust, according to an updated prospectus filed on April 4.
More Wall Street giants want to be involved in the Bitcoin ETF market, and price expectations are through the roof.
Authorized participants (APs) are entities authorized to create and redeem ETF shares directly with the ETF issuer, such as BlackRock or Grayscale. The addition of these APs is particularly important to maintain liquidity in the ETF market and minimize the difference between the ETF’s price and its underlying value.
The SEC is Making it Happen
The filing is under review by the U.S. Securities and Exchange Commission (SEC). If approved, the fund’s APs would…
