Blackrock, the world’s largest asset manager, now has nine authorized participants for its spot bitcoin exchange-traded fund (ETF), the Ishares Bitcoin Trust (IBIT). They include JPMorgan Securities, ABN Amro, UBS Securities, Goldman Sachs, Citigroup, and Citadel Securities.
Blackrock Adds Citi, Goldman, UBS, Citadel as Bitcoin ETF's Authorized Participants — IBIT Holdings Near 260K BTC
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9 Authorized Participants for IBIT
Blackrock, the world’s largest asset manager, filed an update to its Ishares Bitcoin Trust (IBIT) prospectus with the U.S. Securities and Exchange Commission (SEC) on Thursday.
According to the filing, 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 are now authorized participants for the Ishares Bitcoin Trust. IBIT baskets can only be created or redeemed by authorized participants and a block of 40,000 shares is called a “basket.”
Initially, only Jane Street Capital, JP Morgan Securities, Macquarie Capital (USA), and Virtu Americas were named authorized participants in IBIT’s prospectus filed on Jan. 9, a day before the U.S. Securities and Exchange Commission (SEC) approved 11 spot bitcoin ETFs. Blackrock added ABN Amro Clearing USA, Citigroup Global Markets, Goldman Sachs, and UBS Securities in its prospectus amendment filed on March 4. Citadel Securities joined the list in the latest amendment as the ninth authorized participant for IBIT.
Since IBIT launched on Jan. 11, Blackrock has been rapidly buying bitcoin for its spot bitcoin ETF. The Ishreas Bitcoin Trust’s bitcoin holdings have risen to almost 260K bitcoins as of Thursday.
Blackrock’s CEO Larry Fink said last week that he is “very bullish on the long-term viability of Bitcoin.” The executive noted that the Ishares Bitcoin Trust “is the fastest growing ETF in the history of ETFs” and “nothing has gained assets as fast as IBIT in the history of ETFs.” Robert Mitchnick, Blackrock’s head of digital assets, recently emphasized that for the firm’s clients, “ bitcoin is overwhelmingly the number one priority.” He further revealed, “And then a little bit Ethereum, and very little everything else.”
What do you think about Blackrock adding new authorized participants as IBIT holdings rose to nearly 260K bitcoins? Let us know in the comments section below.
