Grayscale Investments, a bitcoin asset management company, has reportedly been in talks with multiple banks, including JP Morgan and Goldman Sachs, to play a big role in its proposed Bitcoin exchange-traded fund. This information surfaced a few days ago from an unnamed source. Prior to this, BlackRock had worked with Jane Street Capital and JP Morgan as approved participants for its planned Bitcoin ETF.
As a significant source of liquidity and guarantor of the ETF's share price tracking its underlying assets, approved participants carry out a vital function. Both the company's and the two banks' representatives declined to comment.
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