BlackRock and Valkyrie have selected their authorized participants (APs) for their proposed Bitcoin ETFs. BlackRock, a major asset manager, will collaborate with J.P. Morgan and quantitative trading firm Jane Street, while Valkyrie has chosen Jane Street and Cantor Fitzgerald as their APs.
The information about these partnerships is shown in recent filings by both firms. BlackRock’s choice of J.P. Morgan is particularly intriguing, given J.P. Morgan CEO Jamie Dimon’s openly negative views on bitcoin and the broader crypto sector. Dimon has been vocal about his skepticism, even stating earlier this month his opposition to cryptocurrencies and suggesting he would ban them if he had the authority.
Both BlackRock and Valkyrie updated their S-1 forms with the Securities and Exchange Commission (SEC) on Friday, the deadline for such updates. This step is crucial in their journey toward launching a spot bitcoin ETF, a financial instrument that has not yet seen approval in the U.S. While naming APs isn’t mandatory in the S-1 filing, it is a significant move that underscores the firms’ commitment and readiness for the launch of their ETFs.
The SEC is poised to make a decision on the approval of a spot bitcoin ETF between January 5 and 10. This decision is eagerly anticipated by the cryptocurrency community and could mark a major milestone in the integration of cryptocurrencies into mainstream financial markets.