© Reuters. FILE PHOTO: The BlackRock logo is seen outside of its offices in New York City, U.S., October 17, 2016. REUTERS/Brendan McDermid/File Photo/File Photo
Exciting news! According to CoinDesk, Goldman Sachs is currently in talks to become an authorized participant for the much-anticipated spot bitcoin exchange-traded funds that BlackRock and Grayscale are looking to launch.
This comes as the US Securities and Exchange Commission is expected to make a decision on the spot bitcoin ETFs by January 10th, a deadline that cannot be missed.
Reportedly, there are 14 asset managers vying for approval, with hopes of giving investors direct exposure to the token without the need to purchase the currency. It’s a highly-anticipated development in the crypto world!
Both Goldman Sachs and BlackRock have kept tight-lipped, declining to comment, while Grayscale has yet to respond to requests for comment from Reuters.
The launch of these ETFs has been a long time coming, as previous attempts have been blocked due to concerns about market manipulation. With an authorized participant, the ETF can be created and redeemed as needed, ensuring the fund accurately tracks the underlying asset.
