BlackRock and Grayscale, leaders in the field of spot Bitcoin Exchange-Traded Funds (ETFs), are considering a collaboration with Goldman Sachs, expected to be confirmed this month.
The two companies, which are leaders in the spot Bitcoin ETF area, are considering Goldman Sachs as a significant partner. According to a news article by CoinDesk dated January 3, this collaboration would involve Goldman Sachs creating and redeeming ETF shares according to market demand.
However, this collaboration with Goldman Sachs has not been finalized yet. The involved companies have not made any official statement on this matter and have not included Goldman Sachs in their official documents. CoinDesk mentioned that this information was obtained from anonymous sources. In a separate news report by Reuters, it was stated that Goldman Sachs and BlackRock declined to comment, and Grayscale did not immediately respond.
Goldman Sachs, being among the top thirty largest banks worldwide, indicates its potential significance as an addition for any ETF provider.
Known Authorized Participants
Some ETF applicants have already disclosed other authorized participants in their collaborations. For instance, BlackRock listed Jane Street Capital and JPMorgan as authorized participants in its latest application, while Valkyrie announced its collaboration with Jane Street Capital and Cantor Fitzgerald.
Similarly, Invesco listed Virtu and JPMorgan as authorized participants in its recent updates, and WisdomTree and Fidelity indicated Jane Street Capital in this role. Although Grayscale has not disclosed the names of authorized participants in its latest changes, its 2022 reports suggest an expected collaboration with Jane Street and Virtu.
According to CoinDesk, based on information from a major trading firm, each spot Bitcoin ETF could have between five to ten authorized participants.
The U.S. Securities and Exchange Commission (SEC) is obligated to make a decision by Wednesday January 10, on a spot ETF application submitted by Ark Invest and 21Shares. Industry experts believe the SEC could approve multiple ETF applications on this date, while some speculate an early approval might be possible on Friday, January 5.
