Insider: Morgan Stanley and Goldman Sachs in Talks to Become Authorized Participants for Grayscale Bitcoin Trust ETF

Insider: Morgan Stanley and Goldman Sachs in Talks to Become Authorized Participants for Grayscale Bitcoin Trust ETF

Insider: Morgan Stanley and Goldman Sachs in Talks to Become Authorized Participants for Grayscale Bitcoin Trust ETF

Grayscale Investments, a cryptocurrency asset management company, is reportedly in talks with companies including JPMorgan Chase and Goldman Sachs to play a key role in its proposed Bitcoin ETF, according to a source familiar with the matter.

These two companies are being considered as authorized participants, which are responsible for creating and redeeming fund shares. The role of authorized participants is crucial as they ensure that the ETF’s share price aligns with the underlying assets of the fund and provide a vital source of liquidity.

Previously, BlackRock had designated JPMorgan Securities as an authorized participant for its proposed Bitcoin ETF, along with Jane Street Capital. CoinDesk also reported earlier today, citing sources, that Goldman Sachs is in talks with Grayscale and BlackRock to become an authorized participant for the Bitcoin ETF.