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BlackRock Spot Bitcoin ETF Now Has 5 New Authorized Participants

Key Points:

BlackRock spot Bitcoin ETF broadened with major banks like Goldman Sachs and UBS.
An expanded participant list enhances liquidity and accessibility for investors.
March sees a surge in spot Bitcoin ETF trading, with BlackRock’s IBIT leading the market.

BlackRock, the world’s largest asset manager, has expanded its spot Bitcoin exchange-traded fund (ETF), IBIT, by updating its list of Authorized Participants (APs).

BlackRock Spot Bitcoin ETF Enhanced with Major Banking Partners

The updated prospectus reveals the addition of five new APs, including ABN AMRO Clearing USA LLC, Citadel Securities LLC, Citigroup Global Markets, Inc., Goldman Sachs & Co. LLC, and UBS Securities LLC, bringing the total number of APs to nine.

BlackRock spot Bitcoin ETF, which has been active since January 10, 2024, enables investors to access Bitcoin exposure without directly owning the digital assets. Authorized Participants play a crucial role in the creation and redemption of ETF shares, enhancing liquidity and accessibility for investors.

The inclusion of major financial institutions like Goldman Sachs and Citigroup underscores the increasing mainstream acceptance of Bitcoin and the demand for regulated investment avenues in digital assets.

Previously listed APs included Jane Street Capital, LLC, JPMorgan Securities LLC, Macquarie Capital (USA) Inc., and Virtu Americas LLC. The prospectus indicates the potential for additional APs at the Sponsor’s discretion.

IBIT Leads as Spot Bitcoin ETF Trading Soars

Spot Bitcoin ETFs experienced a significant surge in trading volume in March, reaching $111 billion, nearly tripling February’s volume. According to Bloomberg ETF analyst Eric Balchunas, BlackRock spot Bitcoin ETF leads in trading volume, followed by Grayscale’s GBTC and Fidelity’s FBTC.

The robust performance in March reinforces the growing interest in spot Bitcoin ETFs, further solidifying BlackRock’s dominance in the ETF market share.

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.