Goldman Sachs Wants Role as Authorized Participant for BlackRock & Grayscale's Spot Bitcoin ETF

Financial giant Goldman Sachs is in advanced discussions to secure a pivotal role as an authorized participant (AP) for the proposed spot Bitcoin Exchange-Traded Funds (ETF) from BlackRock and Grayscale Investments, CoinDesk reported.

According to insider sources, Goldman Sachs is positioning itself to play a significant role in the creation and redemption of shares for the anticipated spot Bitcoin ETF. Serving as an authorized participant grants firms the authority to facilitate the creation of ETF shares by exchanging them for the underlying assets, in this case, BTC.

Last week, BlackRock named JP Morgan and Jane Street as APs in it’s spot Bitcoin ETF application. Cantor Fitzgerald is…

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