BlackRock (NYSE: BLK) has taken the next step to widen liquidity options for the spot Bitcoin ETF in anticipation of approval.
What Happened: BlackRock’s proposed Spot Bitcoin ETF has modified its structure to enable Authorized Participants (APs), mainly Wall Street banks, to create new shares in the fund with cash and not only with cryptocurrency.
The banks that are not allowed to own crypto directly will have the option to act as APs for the BlackRock ETF.
Also Read: Fidelity Spot Bitcoin ETF Listed, Crypto Market Guzzling With Expected Approval
The decision was taken after ...