{"id":221067,"date":"2023-12-30T04:46:12","date_gmt":"2023-12-29T23:16:12","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=221067"},"modified":"2023-12-30T04:46:12","modified_gmt":"2023-12-29T23:16:12","slug":"blackrock-names-jpm-jane-street-as-authorized-participants-for-spot-bitcoin-etf-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/blackrock-names-jpm-jane-street-as-authorized-participants-for-spot-bitcoin-etf-crypto-news\/","title":{"rendered":"BlackRock names JPM, Jane Street as authorized participants for spot Bitcoin ETF – Crypto News"},"content":{"rendered":"

BlackRock<\/a> submitted an update to its spot Bitcoin ETF application with the U.S. Securities and Exchange Commission (SEC) on Dec. 29<\/a>.<\/p>\n

BlackRock\u2019s filing now names two authorized participants that will be involved in share creation and redemption: Jane Street Capital and JP Morgan<\/a> Securities.<\/p>\n

Bloomberg ETF analyst Eric Balchunas noted that JP Morgan\u2019s inclusion is \u201cironic,\u201d seemingly due to JP Morgan CEO Jamie Dimon\u2019s repeatedly hostile statements<\/a> toward Bitcoin. JP Morgan as a firm nevertheless is highly involved in blockchain through products such as Onyx and JPM Coin. JP Morgan analysts also recognized<\/a> the likelihood of a spot Bitcoin ETF approval in September.<\/p>\n

Jane Street Capital, meanwhile, is a quantitative trading firm notable for employing FTX and Alameda Research associates Sam Bankman-Fried and Caroline Ellison in the mid-2010s. However, Jane Street was founded at least a decade before the arrival of either individual and continues to operate, meaning that those ties are irrelevant to its involvement in current ETF applications.<\/p>\n

Valkyrie Investments<\/a>, which also has a pending ETF application, submitted a similar update following BlackRock. It named Jane Street Capital and the financial services firm Cantor Fitzgerald as authorized participants.<\/p>\n

Analyst says approval is increasingly likely<\/h2>\n

Another Bloomberg ETF analyst, James Seyffart, commented on the latest updates. He suggested that an ETF approval is increasingly likely, writing<\/a>:<\/p>\n

\n

\u201cObviously it\u2019s looking more and more like this is a done deal. Would basically need the highest rungs of government to step in and stop these things from being approved.\u201d<\/span><\/p>\n<\/blockquote>\n

Seyffart added that Valkyrie\u2019s filing describes an 80bps fee, meaning a sponsor\u2019s fee will accrue daily by applying a 0.80% annual rate to the Trust\u2019s Bitcoin holdings.<\/p>\n

Dec. 29 is the final date for asset managers to make changes to their spot Bitcoin ETF applications. Many experts expect the SEC to approve<\/a> a spot Bitcoin ETF by Jan. 10, 2024. The SEC is required to decide on an application from Ark Invest by that date but could approve other funds at that time.<\/p>\n

The post BlackRock names JPM, Jane Street as authorized participants for spot Bitcoin ETF<\/a> appeared first on CryptoSlate<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

BlackRock submitted an update to its spot Bitcoin ETF application with the U.S. Securities and Exchange Commission (SEC) on Dec. 29. BlackRock\u2019s filing now names two authorized participants that will be involved in share creation and redemption: Jane Street Capital and JP Morgan Securities. Bloomberg ETF analyst Eric Balchunas noted that JP Morgan\u2019s inclusion is […]<\/p>\n","protected":false},"author":2,"featured_media":122001,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-221067","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/221067","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=221067"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/221067\/revisions"}],"predecessor-version":[{"id":221069,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/221067\/revisions\/221069"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/122001"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=221067"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=221067"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=221067"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}