Join Our Telegram channel to stay up to date on breaking news coverage
Fund management titan BlackRock is in talks with a number of large trading firms that want to provide liquidity for its proposed spot Bitcoin ETF (exchange-traded fund) if it obtains regulatory approval, CoinDesk reported.
Trading giants Jane Street, Virtu Financial, Jump Trading and Hudson River Trading have all held discussions with BlackRock about the market maker role for its spot bitcoin ETF, the CoinDesk story said, citing a person familiar with the matter.
Such firms play a vital role in providing liquidity, matching buyers and sellers, as well as aiding in the creation and redemption of ETF shares.
The talks are another indication the applications for spot Bitcoin ETF products are moving ahead, suggesting that fund managers are optimistic about their regulatory approval.
In Support of a Spot Bitcoin ETF
BlackRock and Jane Street declined to comment, while Virtu Financial, Jump Trading and Hudson River Trading did not immediately respond to a request for comment, the story said.
Fake Bitcoin ETF News Spurred BTC Rally
BTC’s price soared over the past few weeks after incorrect reports indicating that BlackRock’s spot bitcoin ETF may be moving closer to Securities and Exchange Commission (SEC) approval.
🚨NEW: BlackRock CEO Larry Fink on the @Cointelegraph report and #crypto:
“I was busy all day, I only heard it an hour ago.”
“It’s an example of the pent up interest in crypto.”
“We’re hearing from clients around the world about the need for crypto.”
“Crypto will play the…
— Eleanor Terrett (@EleanorTerrett) October 16, 2023
The asset manager’s CEO, Larry Fink, said earlier this month that the rally triggered by the false news proved that there is a “need for crypto.”
Related Articles:
New Crypto Mining Platform – Bitcoin Minetrix
- Audited By Coinsult
- Decentralized, Secure Cloud Mining
- Earn Free Bitcoin Daily
- Native Token On Presale Now – BTCMTX
- Staking Rewards – Over 100% APY
Join Our Telegram channel to stay up to date on breaking news coverage
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://insidebitcoins.com/news/blackrock-in-talks-with-market-makers-about-liquidity-for-its-spot-bitcoin-etf-coindesk-says
