Jane

Bitcoin

Spot

<p>As the prospective dates for approval of Bitcoin Spot ETFs approach, BlackRock, Fidelity, Valkyrie, Bitwise and other applicants for authorization of these financial instruments are fine-tuning their dossiers. Lately, many of them have once again filed documents in which they designate the “authorized participants” for their trackers.</p> 
<h2 id="h-the-cream-of-the-crop-of-brokers-for-bitcoin-spot-etfs">The cream of the crop of brokers for Bitcoin Spot ETFs</h2> 
<p>Aside from the multiplication of meetings with the SEC, BlackRock, one of the financial behemoths seeking the green light for the BTC cash ETF, has launched a <a href="https://www.cointribune.com/en/blackrock-a-cash-bitcoin-etf-to-conquer-wall-street/" target="_blank" rel="noreferrer noopener">new product</a>: the Bitcoin cash ETF. The aim: to stand out from other candidates and reassure financial market regulators.</p>
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<p>But according to the latest news, BlackRock, like other asset managers interested in Exchange Traded Funds, have added further documents to their initial request.</p> 
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     <p lang="en" dir="ltr">BlackRock named Jane Street and JPMorgan as the broker-dealers who will be responsible for steering cash into and out of its spot-Bitcoin ETF should it be approved by US regulators <a href="https://t.co/w2pMXfHTl7">https://t.co/w2pMXfHTl7</a></p>— Bloomberg Crypto (@crypto) <a href="https://twitter.com/crypto/status/1740839218220323315?ref_src=twsrc%5Etfw">December 29, 2023</a>
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<p>“BlackRock has appointed Jane Street and JPMorgan as brokers to manage the liquidity inflows and outflows of its Bitcoin spot ETF, if it is approved by US regulators.”</p> 
<p>This <a href="https://www.bloomberg.com/news/articles/2023-12-29/blackrock-names-jane-street-jpmorgan-as-bitcoin-etf-authorized-participants?utm_campaign=socialflow-organic&amp;utm_source=twitter&amp;utm_content=crypto&amp;utm_medium=social" target="_blank" rel="noreferrer noopener">Bloomberg article</a> states that BlackRock, Fidelity and other applicants have just named “authorized participants” for their Bitcoin cash ETF. They are Jane Street Capital, Cantor Fitzgerald &amp; Co. and JPMorgan Securities.</p> 
<p>The term “Authorized Participant” (AP) refers to a company that manages ETF cash inflows and outflows. Generally speaking, BlackRock and the other applicants are not authorized to buy bitcoins (BTC) themselves: this task will fall to the “APs”.</p>  
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<p>Here are some details on these appointments:</p> 
<ul> 
 <li>BlackRock has selected Jane Street and JPMorgan;</li> 
 <li>Fidelity and WisdomTree have selected Jane Street Capital;</li> 
 <li>Valkyrie has selected Jane Street and Cantor as its “AP”;</li> 
 <li>Etc.</li> 
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<p>According to CoinDesk, BlackRock and Valkyrie filed their respective Form S-1s with the Securities and Exchange Commission last Friday. VanEck &amp; Ark and 21Shares refiled on Thursday and Friday.</p> 
<p>As a reminder, yesterday, December 29, was the deadline for this type of operation.</p>

Bitcoin ETF: BlackRock, Fidelity and other applicants elect their brokers

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