Jane

Bitcoin ETF

Grayscale Bitcoin Trust

<p class="is-style-lead">BlackRock disclosed JPMorgan Securities and Jane Street as intended participants for its proposed Bitcoin ETF before the SEC decision.</p>
<p>The asset management giant is set to collaborate with the participants, <a href="https://www.sec.gov/Archives/edgar/data/1980994/000143774923035559/bit20231227_s1a.htm" data-type="link" data-id="https://www.sec.gov/Archives/edgar/data/1980994/000143774923035559/bit20231227_s1a.htm" target="_blank" rel="noopener noreferrer nofollow">pending approval</a> from the Securities and Exchange Commission (SEC).</p>
<p>Authorized participants play a crucial role in ETF operations, as they can create and redeem shares. This involves exchanging ETF shares for a corresponding basket of securities mirroring the fund’s holdings or opting for a cash exchange. The disclosure of these authorized participants is considered a pivotal step before the SEC decides.</p>
<p>JPMorgan CEO Jamie Dimon has <a href="https://crypto.news/jamie-dimon-says-he-would-shut-down-crypto-if-given-the-option/" data-type="link" data-id="https://crypto.news/jamie-dimon-says-he-would-shut-down-crypto-if-given-the-option/" rel="noopener noreferrer nofollow">previously advocated</a> for a government ban on cryptocurrencies, citing concerns about their legitimacy. But with JPMorgan being an intended participant in the <a href="https://crypto.news/tag/bitcoin-etf/" data-type="link" data-id="https://crypto.news/tag/bitcoin-etf/" rel="noopener noreferrer nofollow">Bitcoin ETF</a>, Dimon’s words contradict his previous statements.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Jamie Dimon says Bitcoin should be banned. <br><br>Now his bank JP Morgan has been named as an ‘Authorised Participant’ on BlackRock’s ETF application – the biggest name in funds management. <br><br>Watch what they do. <br>Not what they say. <a href="https://t.co/9fHle3wjf8" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/9fHle3wjf8</a></p>— Bitcoin Archive (@BTC_Archive) <a href="https://twitter.com/BTC_Archive/status/1740827109273268649?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">December 29, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>You might also like: <a href="https://crypto.news/analyst-bitcoin-to-see-significant-surge-on-etf-approval/" rel="noopener noreferrer nofollow"> Analyst: Bitcoin to see significant surge on ETF approval </a></p>
<p>According to analysts from Bloomberg Intelligence, such as James Seyffart and Eric Balchunas, the SEC is poised to approve spot Bitcoin ETF proposals that commit to <a href="https://crypto.news/bitcoin-etf-applicants-must-sport-cash-redemption-model/" data-type="link" data-id="https://crypto.news/blackrock-pivots-to-cash-based-redemptions-in-spot-bitcoin-etf-proposal/" rel="noopener noreferrer nofollow">cash-only creations</a> and redemptions, provided they have agreements with authorized participants. The likelihood of SEC approval stands at 90%, with expectations of some firms launching a spot Bitcoin ETF in early January.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">BlackRock just dropped its updated S-1 and it DOES name the APs: Jane Street and JPMorgan (which is kinda ironic). Looks we have our first horse that at the starting gate. <a href="https://t.co/H3UmaesygJ" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/H3UmaesygJ</a></p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1740821222450168113?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">December 29, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>As the SEC faces a Jan. 10 deadline for a decision on proposals by <a href="https://crypto.news/cathie-wood-hints-at-spot-bitcoin-etf-approval-date/" data-type="link" data-id="https://crypto.news/cathie-wood-hints-at-spot-bitcoin-etf-approval-date/" rel="noopener noreferrer nofollow">ARK Invest and 21Shares</a>, market watchers anticipate potential developments in the emerging Bitcoin ETF landscape. Despite refilings by firms like ARK, 21Shares, and <a href="https://crypto.news/vaneck-files-updated-spot-bitcoin-etf-application/" data-type="link" data-id="https://crypto.news/vaneck-files-updated-spot-bitcoin-etf-application/" rel="noopener noreferrer nofollow">VanEck</a>, authorized participants have yet to be named, signaling that firms may disclose this information when filing their effective prospectus, marking the final step before going live.</p>
<p>Grayscale Investments, in a June 2022 <a href="https://www.bloomberg.com/news/articles/2022-06-27/grayscale-bitcoin-trust-lines-up-jane-street-virtu-in-etf-bid" data-type="link" data-id="https://www.bloomberg.com/news/articles/2022-06-27/grayscale-bitcoin-trust-lines-up-jane-street-virtu-in-etf-bid" target="_blank" rel="noopener noreferrer nofollow">report</a>, had previously indicated intentions to work with Jane Street and Virtu Financial if its Grayscale Bitcoin Trust (<a href="https://crypto.news/tag/gbtc/" data-type="link" data-id="https://crypto.news/tag/gbtc/" rel="noopener noreferrer nofollow">GBTC</a>) converted to an ETF, but recent filings have not confirmed these participants.</p>
<p>You might also like: <a href="https://crypto.news/cryptocurrency-option-trading-soars-as-january-etf-expectations-escalate/" rel="noopener noreferrer nofollow"> Cryptocurrency option trading soars as January ETF expectations escalate </a></p>
<h2 class="wp-block-heading" id="strong-valkyrie-names-cantor-fitzgerald-jane-street-as-aps-strong"><strong>Valkyrie names Cantor Fitzgerald, Jane Street as APs</strong></h2>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">UPDATE: <a href="https://twitter.com/ValkyrieFunds?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@ValkyrieFunds</a> just filed another amended S-1 for their Bitcoin ETF. Anddddd they have named Jane Street and Cantor Fitzgerald as their APs. Floodgates opening. <a href="https://t.co/GKKIoAvaTy" target="_blank" rel="noopener noreferrer nofollow">https://t.co/GKKIoAvaTy</a> <a href="https://t.co/JisXS3XxVR" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/JisXS3XxVR</a></p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1740833363223630043?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">December 29, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>In a recent update, <a href="https://crypto.news/tag/valkyrie/" data-type="link" data-id="https://crypto.news/tag/valkyrie/" rel="noopener noreferrer nofollow">Valkyrie</a> filed another amended S-1 for their Bitcoin ETF, revealing Jane Street and Cantor Fitzgerald as their authorized participants. This move is significant, as it signals a potential floodgates opening in the Bitcoin ETF industry.</p>
<p>Read more: <a href="https://crypto.news/crypto-vs-traditional-finance/" rel="noopener noreferrer nofollow"> https://crypto.news/crypto-vs-traditional-finance/ </a></p>

BlackRock designates JPMorgan, Jane Street as Bitcoin ETF authorized participants

Table of Contents

crypto.news

Other articles published on Jan 1, 2024

Optimism (OP) and Solana (SOL) Dominant on Charts – Pullix (PLX) Presale Sparks Massive Interest

Meme Moguls’ (MGLS) Fast-Selling Presale and Dogecoin (DOGE) Whales’ Movement Triggers Speculatio...

Orbit Chain Suffers a Major Hack with $81.5 Million in Crypto and Stablecoins Lost

Cross-chain protocol Orbit Bridge suffers exploit, losses surpass $80m

DEX Tools: Which DEX Tools Are Worth The Hype In 2024

Expert’s 2024 Prediction for Cryptocurrency: The Halving Effect

Join our free newsletter for daily crypto updates!