Goldman Sachs Joins BlackRock's Bitcoin ETF as Authorized Participant

This move marks a significant endorsement from traditional finance giants for the burgeoning spot Bitcoin ETF market.

Goldman Sachs, alongside UBS Securities, Citigroup Global Markets, and Citadel Securities, has been named as an authorized participant for BlackRock's iShares Bitcoin Trust (IBIT), signaling a significant move by traditional finance players into the spot Bitcoin ETF market.
The addition of these major financial institutions as authorized participants is expected to enhance the liquidity and price accuracy of IBIT shares in the market.
Since its launch in January, IBIT has attracted over $14 billion in net inflows, demonstrating strong investor interest and confidence in the product.
The participation of these traditional financial giants in the Bitcoin ETF space is seen as a legitimization of Bitcoin as an investment asset, despite previous skepticism from some of the involved parties.
The involvement of Goldman Sachs is particularly noteworthy, given the bank's previous critical stance on cryptocurrency, highlighting a shift in the traditional financial sector's approach to digital assets.