Sources: Goldman Sachs is in talks to become an authorized participant for the proposed Bitcoin ETFs by BlackRock and Grayscale
According to Coindesk, citing two informed sources, Goldman Sachs is in talks to become an Authorized Participant (AP) for the proposed spot Bitcoin ETFs by BlackRock and Grayscale. This is one of the most important roles in the trillion-dollar ETF industry, involving creating and redeeming ETF shares to ensure that products trade in sync with their underlying assets. Last week, BlackRock and Valkyrie designated their APs as JPMorgan Chase and Jane Street respectively. A source from a large trading firm said more APs may emerge, expecting each Bitcoin ETF will eventually have 5 to 10 APs.
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