๐ Big news, crypto enthusiasts! BlackRock, the global asset manager, has just added five Wall Street giants to its Bitcoin ETF party. ๐ฅณ ABN AMRO Clearing, Citadel Securities, Citigroup Global Markets, Goldman Sachs, and UBS Securities are the new kids on the block(chain). They join the likes of JPMorgan Securities, Jane Street Capital, and others in the ETF funhouse.
These authorized participants play a crucial role in the ETF's operational mechanism. They're like the DJs, controlling the creation and redemption of ETF shares. This move indicates that these firms are now okay with being publicly associated with Bitcoin.
Meanwhile, Bitcoin ETFs saw a trading volume spike in March, hitting a whopping $111 billion. BlackRock's IBIT continues to lead the pack. So, what do you think about these Wall Street firms joining the Bitcoin ETF party? Let's chat in the comments! ๐ฌ๐