The proposed ETFs would “magnify the performance” of a reference spot Bitcoin ETF — which is yet to receive a decision from the SEC.
Goldman Sachs is in talks to play the key role of being an "authorized participant" for BlackRock and Grayscale's bitcoin ETFs, if the SEC approves them, according to people familiar with the situation.
We see a 98% chance of approval in the next couple of weeks and the high likelihood of a Bitcoin rally to follow.
Fidelity will charge 0.39% to shareholders of its spot Bitcoin ETF, whereas Galaxy/Invesco will waive fees for six months before charging 0.59% afterwards.
Jamie Dimon's bank agreed to play a key role with BlackRock's proposed bitcoin ETF, just weeks after he told U.S. senators: "I've always been deeply opposed to crypto, bitcoin, etc."
BlackRock will use J.P. Morgan and Jane Street as their authorized participants. Valkyrie has also named Jane Street in addition to Cantor Fitzgerald.
This is the second meeting in a month between the parties about rule changes required to list the bitcoin ETF.
The unknown seed investor agreed to purchase $100,000 shares on October 27, 2023, BlackRock’s latest filing reveals.
As hype builds for spot Bitcoin ETFs in the U.S., some are concerned the industry is moving away from the “core promise” of cryptocurrencies.