BlackRock, Fidelity, WisdomTree Name Jane Street, JPMorgan As Authorized Participants For Bitcoin ETFs
Portfolio Pulse from Benzinga Neuro
BlackRock (BLK), Fidelity (FIS), and WisdomTree (WT) have named Jane Street Capital and JPMorgan Securities (JPM) as authorized participants for their upcoming Bitcoin ETFs, pending SEC approval. Jane Street is also selected by Valkyrie for a similar role. The SEC had set a deadline of Dec. 29 for final amendments, with early January as the potential approval window for Bitcoin ETFs. Invesco is also in the race, offering to waive fees for its Bitcoin ETF.
December 30, 2023 | 2:43 am
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POSITIVE IMPACT
BlackRock has named Jane Street and JPMorgan as authorized participants for its potential Bitcoin ETF, signaling progress in the ETF's development.
The appointment of authorized participants is a positive step towards the launch of BlackRock's Bitcoin ETF, which could attract investor interest and potentially boost BLK's stock in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Fidelity has chosen Jane Street as an authorized participant for its Bitcoin ETF, which boasts the lowest fee in the market at 0.39%.
Fidelity's competitive fee structure and the appointment of an authorized participant may increase the attractiveness of its ETF to investors, potentially impacting FIS's stock positively in the short term.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 80
POSITIVE IMPACT
JPMorgan Securities has been appointed as an authorized participant for Bitcoin ETFs by BlackRock, Fidelity, and WisdomTree.
JPMorgan's involvement as an authorized participant for multiple Bitcoin ETFs could enhance its reputation in the crypto space and possibly have a positive effect on JPM's stock in the short term.
CONFIDENCE 75
IMPORTANCE 55
RELEVANCE 70
POSITIVE IMPACT
WisdomTree has also named Jane Street as an authorized participant for its Bitcoin ETF, indicating readiness for SEC approval.
The announcement shows WisdomTree's preparedness for launching its Bitcoin ETF, which could have a favorable impact on WT's stock as market anticipation builds.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 80