BlackRock Expands Bitcoin ETF as Crypto Fund Flourishes
BlackRock amps up its Bitcoin ETF, adding top banks to boost liquidity
BlackRock is boosting the liquidity of its IBIT Bitcoin ETF by expanding its list of Authorized Participants to nine.
This includes new heavyweights like Citadel, Goldman Sachs, and Citigroup.
Authorized Participants are vital for ETFs, as they manage the share flow to keep trading smooth.
The addition of such major players points to a rising interest in Bitcoin among traditional financial firms.
The IBIT ETF has done well since its launch, with an AUM of $17.24 billion, making it a top player next to Grayscale’s GBTC.
Meanwhile, VanEck's ETF is trailing despite eliminating management fees and attracting a high single-day inflow.
VanEck also noted a potential greater interest in an Ether ETF over Bitcoin's, but SEC approval remains pending.
BlackRock has further embraced crypto with its BUIDL tokenized fund on the Ethereum blockchain, attracting $160 million soon after launching.
