BlackRock Adds 5 Firms, Including Citi, Citadel and Goldman Sachs, as Authorized Participants in Its Spot Bitcoin ETFs
Citi, Goldman Sachs, UBS, and Citadel have joined JPMorgan Chase and Jane Street as Authorized Participants (APs) in the company's spot bitcoin ETF, expanding its total number of APs to nine firms, according to an amendment to the ETF's Form S-1 that BlackRock filed with the SEC on Friday. Authorized Participants (APs) are entities that acquire an ETF's underlying assets (e.g., bitcoin) to create its shares, thereby providing liquidity in the ETF market.
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