BlackRock’s proposed Bitcoin (BTC) spot ETF is undergoing a key adjustment in its mechanics, opening up possibilities for Wall Street financial institutions to play a significant role. The recent modification allows authorized participants, essential players in the ETF ecosphere, to generate new fund shares using cash, a departure from the previous restriction to crypto-only creation.
This alteration holds particular significance for highly regulated American banks, which, due to current restrictions, cannot directly hold BTC. This adjustment creates an opportunity for institutions such as Goldman Sachs and JPMorgan, boasting some of the world’s largest balance sheets, to step in as…
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