Banking giant Goldman Sachs is reportedly positioning itself to become an authorized participant (AP) for Bitcoin exchange-traded funds (ETFs) introduced by BlackRock and Grayscale. These ETFs are awaiting approval from the US Securities and Exchange Commission (SEC) and would require authorized participants to facilitate the creation and redemption of ETF shares. Goldman Sachs aims to partner with BlackRock and Grayscale, joining other financial giants like JPMorgan Chase in serving as APs for potential ETF issuers.
BlackRock has already named Jane Street and JPMorgan as authorized participants for its proposed ETF, while Grayscale is attempting to convert its Grayscale Bitcoin Trust (GBTC) into an ETF. Despite a recent appeals court win, the SEC has been ordered to reconsider Grayscale’s application. Although Goldman Sachs has been associated with spot Bitcoin ETFs in the past, its potential entry into the Bitcoin ETF space alongside major financial institutions like JPMorgan, BlackRock, Fidelity, and BNY Mellon highlights the growing interest and participation of established players in the cryptocurrency investment landscape.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Fidelity, BlackRock, BNY Mellon, JPMorgan Chase, Goldman Sachs |
| Companies | Fidelity, BlackRock, BNY Mellon, JPMorgan Chase, Grayscale, Goldman Sachs |
| Currencies | Bitcoin |
| Securities | None |
