BlackRock disclosed significant new information Friday as part of its proposed spot bitcoin ETF: the identities of its intended authorized participants. 

BlackRock plans to tap JPMorgan Securities and Jane Street as authorized participants, a Friday filing notes, should the Securities and Exchange Commission grant approval for their proposed fund.

Authorized participants, or APs, are entities allowed to create and redeem shares of an ETF. These organizations can either exchange ETF shares for a corresponding basket of securities that reflects the ETF’s holdings, or exchange them for cash.

ETF watchers like Bloomberg Intelligence analysts James Seyffart and Eric Balchunas have been…

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