BlackRock Adds Goldman Sachs, Citigroup, Citadel as APs for Bitcoin ETF
Summary
BlackRock has added five more authorized participants (APs) to its iShares Bitcoin Trust (IBIT), taking the total to nine. The new APs are Goldman Sachs, Citadel, Citigroup, UBS, and clearing house ABN AMRO. APs play a crucial role in the ETF process by adjusting the supply of shares to create liquidity. Despite being less than three months old, IBIT has nearly $18 billion in assets under management. The involvement of Goldman Sachs is significant given its wealth management chief investment officer's recent statement that the bank sees no value in crypto.
