BlackRock Expands Bitcoin ETF APs to Include Wall Street Giants
BlackRock, the world's largest asset manager, has expanded the list of authorized participants (APs) for its Bitcoin spot-ETF. The move follows the success of Bitcoin spot-ETFs in the US and signals growing institutional interest in the cryptocurrency.
Most of the new APs were not previously involved in the eleven approved Bitcoin spot-ETFs in the US. The list now includes heavyweights like Goldman Sachs, UBS Securities, Citigroup Global Markets, Citadel Securities, and ABN AMRO Clearing USA. UBS Securities, one of the new APs, was previously rumored to be planning its own Bitcoin spot-ETF, indicating increased competition in the market.
The involvement of these renowned Wall Street giants gives Bitcoin more legitimacy and accessibility. Morgan Stanley and UBS Securities have also announced plans to enter the Bitcoin spot ETF market, joining existing players like Fidelity and BlackRock. The expansion of BlackRock's partners is expected to improve liquidity for the fastest-growing ETF in history.
The addition of these prominent financial services providers as APs for BlackRock's Bitcoin ETF demonstrates the growing acceptance of Bitcoin as a mainstream investment. Each new participant is a step towards mass adoption, making it easier for investors to access and trade Bitcoin through regulated investment products.
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