UBS - BlackRock Adds Goldman Sachs Among New APs For Spot Bitcoin ETF | Benzinga
Investment giant BlackRock Inc. (NYSE:BLK) has broadened the network of Authorized Participants (APs) for IBIT (NASDAQ:IBIT), its spot Bitcoin exchange-traded fund.
What Happened: Launched on Jan. 11, 2024, IBIT offers investors an avenue to gain Bitcoin exposure indirectly, enhancing the accessibility of digital asset investments.
The firm’s latest prospectus reveals the addition of five esteemed financial entities to its roster of APs, elevating the total to nine.
The newly included Authorized Participants are ABN AMRO Clearing USA LLC, Citadel Securities LLC, Citigroup Global Markets, Inc. (NYSE:C), Goldman Sachs & Co. LLC (NYSE:GS), and UBS Securities LLC. (NYSE:UBS), according to an amendment to its registration form.
This expansion is anticipated to bolster IBIT’s liquidity and investor reach significantly.
Authorized Participants are integral to the ETF ecosystem, ensuring ...