Posted 1/3/2024, 5:48:00 PM
Goldman Sachs Poised to Help Launch Bitcoin ETFs as Major Banks Embrace Crypto
- Goldman Sachs likely to play key role as Authorized Participant (AP) for Bitcoin ETFs from BlackRock and Grayscale
- APs have important job of creating and redeeming ETF shares to ensure they trade properly
- Goldman would join other major finance firms like JPMorgan, Jane Street, Cantor Fitzgerald as Bitcoin ETF APs
- Big banks getting involved due to cash-based bitcoin backing seen as key to SEC approval
- BlackRock is world's largest asset manager, Grayscale runs $26B Grayscale Bitcoin Trust