Big Financial Firms Express Interest in Bitcoin

user avatar

by Giorgi Kostiuk

3 years ago

Made with AI

Image via U.Today

Eric Balchunas, a prominent ETF analyst at Bloomberg, notes that major financial companies like Citadel, Goldman Sachs, UBS, and Citigroup have recently been added to the list of authorized participants for BlackRock's Bitcoin ETF. These firms were previously hesitant to join but are now openly embracing the success of the ETF, which has quickly reached $10 billion in assets under management in just seven weeks.

Some unexpected additions to the list include JP Morgan and Jane Street Capital, with JP Morgan CEO Jamie Dimon previously expressing skepticism about Bitcoin. Despite Dimon's negative comments about cryptocurrencies, the bank has decided to participate in the ETF.

Authorized participants play a critical role in creating and redeeming shares for the ETF issuer, enabling seamless exchange between shares, cash, and other securities. Their involvement signifies a growing interest of major financial institutions in the world of Bitcoin, showcasing a shift towards wider acceptance and acknowledgment of the cryptocurrency.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Bitcoin ETF Outflows Show Contrasting Trends as October Ends

US spot Bitcoin funds faced significant withdrawals at the end of October, with BlackRock's fund attracting nearly $1 billion in net inflows, highlighting contrasting trends in investor demand.

user avatarKaterina Papadopoulou

Theft of iPhone Leads to Significant Financial Loss for Cryptocurrency Executive

Theft of iPhone leads to significant financial loss for cryptocurrency executive Magnus Ahmad, who lost approximately $14,000 after his unlocked device was stolen, resulting in unauthorized access to his financial accounts.

user avatarMaya Lundqvist

Shopify and Coinbase Introduce New Payment Protocol for Merchants

Shopify and Coinbase have launched a Commerce Payments Protocol enabling eligible merchants to accept USDC through Shopify Payments.

user avatarLeo van der Veen

Shopify's Commerce Payments Protocol Sees Over 42 Million Payments

Shopify's Commerce Payments Protocol has recorded over 42 million net settled payments and 448,000 tracked payments as of October 2, highlighting its significant activity and potential.

user avatarLi Weicheng

Chainalysis Investigates Security Breach

Chainalysis is investigating a security breach and has engaged external cybersecurity specialists to enhance its defenses.

user avatarAisha Farooq

Bitcoin's Relevance Grows as Small Businesses Face Economic Challenges

Bitcoin's relevance grows as small businesses face economic challenges due to rising costs and inflation.

user avatarTenzin Dorje

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.