BlackRock adds to list of authorized participants of Bitcoin ETF IBIT: Citadel, Citigroup, etc.

This site (120bTC.coM): BlackRock (BlackRock) takes action to expand market participation and liquidity and will increase the number of granting participants in its Bitcoin Spot ETF–IBIT (AP), this ETF has had the largest inflow of funds among all related ETFs since its launch on January 10, 2024.

Added multiple financial giants

The updated prospectus shows that BlackRock has included five well-known financial institutions in its AP list, increasing the original four to nine. New institutions include ABN AMRO Clearing USA LLC, Citadel Securities LLC, Global Markets, Inc., Goldman Sachs & Co. LLC and UBS Securities LLC. These additional institutions will help manage and optimize the ETF’s share creation and redemption process.

What are the benefits of expanding Authorized Participants (AP)?

Authorized Participants play a key role in maintaining the efficiency of ETF operations. They facilitate the seamless transfer of funds between funds and trusts, ensuring that ETFs operate efficiently and remain attractive to investors. The expansion of AP scope is expected to significantly increase IBIT’s liquidity and make it more accessible to a diverse investor base.

IBIT continues to lead

BlackRock’s IBIT and Fidelity’s FBTC have performed well since their launch, showing an outperformance against other funds. Not only did these ETFs outperform other funds, they also set record inflows for 49 consecutive days. What an achievement in ETF history.

Bitcoin ETFs bring big money to BlackRock and Fidelity

Continued investor inflows into IBIT and FBTC, even amid falling Bitcoin prices, underscore strong confidence in these products .

BlackRock’s IBIT has contributed to more than half of the firm’s net inflows this year, twice as much as any of its other 420 ETF offerings. Likewise, Fidelity's FBTC attracted 70% of its total inflows, attracting five times more capital than any other Fidelity ETF.

Impact on Future Growth

The inclusion of these heavyweight financial players as authorized participants of the IBIT ETF not only highlights Bitcoin’s growing mainstream acceptance, but also reflects the growing appetite for regulated Increased demand for investment pipelines into digital assets. This policy not only enhances the stability and growth prospects of the IBIT ETF, but also consolidates the compliant status of cryptocurrencies as an investment portfolio component.

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