Bloomberg ETF analyst Eric Balchunas shared that BlackRock, the world's largest asset manager, has made a new update to its spot Bitcoin ETF.
Accordingly, BlackRock has added many new authorized participants to its BTC ETF. Among these participants were financial giants Goldman Sachs, Citadel, UBS and Citigroup.
Evaluating BalckRock's Bitcoin ETF move, ETF analyst Eric Balchunas interpreted this development as “big companies want to be a part of the Bitcoin movement in crypto.”
“BlackRock has updated its Bitcoin ETFs and added several new authorized participants, including Citadel, Goldman Sachs, UBS, Citigroup.
The takeaway from this: big companies now want to be a part of crypto and/or no longer see a problem with it being made public.
So far, Citi, Goldman Sachs, UBS and Citadel have not been named in any of these ETF applications. So either they are new or they were hiding their identities before, but now they are more comfortable. “Both are a result of the success of ETFs.”
Here's current list of ETFs and their APs. Up until now Citi, GS, UBS and Citadel were not named in any of these ETF filings. So they either new OR they were ashamed before to be ID-ed but are now cool. Either way, likely a result of the ETFs' mega-flows/success. pic.twitter.com/TRkpllJ1Js
— Eric Balchunas (@EricBalchunas) April 5, 2024
*This is not investment advice.
