Latest update from Blackrock as it expands its list of authorized participants for the Ishares Bitcoin Trust (IBIT) spot bitcoin ETF to include nine leading financial institutions, marking a significant milestone in the ETF’s rapid growth and bitcoin’s increasing acceptance in the investment world.
Blackrock, the globe’s leading asset management firm, has expanded the list of authorized participants for its Ishares Bitcoin Trust (IBIT) spot bitcoin exchange-traded fund to nine.
This elite group includes financial giants such as JPMorgan Securities, ABN Amro, UBS Securities, Goldman Sachs, Citigroup, and Citadel Securities.
IBIT’s Roster of Authorized Participants Expanded
In a recent update filed with the U.S. Securities and Exchange Commission (SEC), Blackrock added several prestigious names to the authorized participants list for its Ishares Bitcoin Trust (IBIT).
Now, ABN AMRO Clearing USA, Citadel Securities, Citigroup Global Markets, Goldman Sachs, Jane Street Capital, JP Morgan Securities, Macquarie Capital (USA), UBS Securities, and Virtu Americas have the authority to create or redeem IBIT shares.
A collection of 40,000 shares is defined as a “basket,” exclusively manageable by these authorized entities.
Originally, the prospectus filed on January 9 listed only Jane Street Capital, JP Morgan Securities, Macquarie Capital (USA), and Virtu Americas as authorized participants.
Following the SEC’s approval of 11 spot bitcoin ETFs on January 10, Blackrock broadened its list to include additional reputable firms through amendments to its prospectus, with Citadel Securities being the latest addition.
Since its launch on January 11, Blackrock has aggressively accumulated bitcoin for its ETF, with the Ishares Bitcoin Trust’s bitcoin assets approaching 260,000 as of the last update.
Larry Fink, Blackrock’s CEO, expressed his strong optimism about Bitcoin’s future, noting the Ishares Bitcoin Trust as the most rapidly growing ETF to date. Robert Mitchnick, head of digital assets at Blackrock, highlighted bitcoin as the primary focus for the firm’s clients, with some interest in Ethereum and minimal attention to other cryptocurrencies.
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