As the expected dates for the approval of the Bitcoin Spot ETF approach, BlackRock, Fidelity, Valkyrie, Bitwise and other applicants for authorization to connect to these financial instruments are refining their files. So recently, many of them have resubmitted documents identifying “authorized participants” for their trackers. Big plan!
Best Brokers for Bitcoin Spot ETF
Except an increase in meetings with the SECBlackRock, one of the financial giants seeking the green light for BTC spot ETFs, has launched a new product: Bitcoin cash ETF. The goal: to stand out from other candidates and appease financial market regulators.
But according to recent reports, BlackRock, like other financial asset managers interested in Exchange Traded Funds, have added additional documents to their original application.
” BlackRock determined Jane Street and JPMorgan as brokers responsible for managing the inflow and outflow of liquidity from its spot bitcoin ETF if approved by US regulators. »
This Bloomberg article reports that BlackRock, Fidelity and other applicants have just named “eligible participants” for their spot Bitcoin ETF. It is about by Jane Street Capital, Cantor Fitzgerald & Co. and JPMorgan Securities.
The term “Authorized Participant” (AP) refers to the company that processes managing the inflow and outflow of liquidity from the ETF. In general, BlackRock and other candidates are not authorized to buy Bitcoins (BTC) themselves: this mission will fall under “AP”.
Here are some details about these meetings:
- BlackRock selected Jane Street and JPMorgan;
- Fidelity and WisdomTree named Jane Street Capital;
- Valkyrie chose Jane Street and Cantor as “APs”;
- Etc.
According to CoinDesk, BlackRock and Valkyrie filed theirs form S-1 relevant filings with the Securities and Exchange Commission last Friday. Those from VanEck and Ark and 21Shares resubmitted their brief on Thursday and Friday.
As a reminder, the deadline for this type of operation was set yesterday, December 29.
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The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.