BlackRock names Citi, Citadel, Goldman Sachs as bitcoin buyers for its ETF | Headlines | News | CoinMarketCap
04/06/2024 01:05
BlackRock has revealed the names of four more Wall Street firms it's enlisting to buy bitcoin for its iShares Bitcoin Trust ETF. Citi, Goldman …
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Published on April 05, 2024 17:58 GMT+00:00edited on April 05, 2024 18:04 GMT+00:00
BlackRock has revealed the names of four more Wall Street firms it's enlisting to buy bitcoin for its iShares Bitcoin Trust ETF.
Citi, Goldman Sachs, UBS, and Citadel have joined JP Morgan and Jane Street as authorized participants for the world's largest asset manager's spot bitcoin ETF, according to an amendment filed with the Securities and Exchange Commission on Friday to the ETF's Form S-1.
An Authorized Participant (AP) is an entity that acquires the underlying assets of an ETF (such as bitcoin in this context) to create its shares, providing the liquidity of the ETF market. U.S.-listed ETFs have, on average, 24 “contracted” APs and five “active” APs, …