BlackRock has updated its spot Bitcoin ETF application with the SEC, naming JP Morgan Securities and Jane Street Capital as authorized participants for share creation and redemption. This move is seen as ironic due to JP Morgan CEO Jamie Dimon’s previous negative comments about Bitcoin, although the firm is involved in blockchain technology. Jane Street Capital, a quantitative trading firm, is also named as an authorized participant. Valkyrie Investments, another company with a pending ETF application, has made a similar update, naming Jane Street Capital and Cantor Fitzgerald as authorized participants.
Analysts believe that the approval of a spot Bitcoin ETF is increasingly likely, with one analyst suggesting that it would require significant government intervention to prevent approval. Valkyrie’s filing indicates an 80bps fee, meaning a sponsor’s fee will accrue daily based on the Trust’s Bitcoin holdings. The deadline for asset managers to make changes to their spot Bitcoin ETF applications is December 29, and many experts expect the SEC to approve a spot Bitcoin ETF by January 10, 2024. The SEC is required to decide on an application from Ark Invest by that date but could approve other funds as well.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | |
| Sentiment | very positive |
| Relevance Score | 1 |
| People | Sam Bankman-Fried, Eric Balchunas, Caroline Ellison, James Seyffart, Jamie Dimon |
| Companies | BlackRock, JPMorgan Securities, Jane Street Capital, Valkyrie Investments, Cantor Fitzgerald |
| Currencies | Bitcoin |
| Securities | None |
