The world’s largest asset manager, BlackRock, added five new big players to the spot Bitcoin exchange-traded fund (ETF).
On April 5th, Friday, BlackRock announced that it added five new participants to the spot Bitcoin ETF (IBIT). Among the new participants were major names in the financial sector such as Citadel, Goldman Sachs, UBS, and Citigroup.
The increase in the total number of participants from four to nine was interpreted to increase the liquidity and accessibility of the spot Bitcoin ETF for investors. The previous four participants included Jane Street Capital, JP Morgan Securities, Macquarie Capital (USA) Inc., and Virtu Americas.
Bloomberg’s ETF analyst, Eric Balchunas, commented on the matter, expressing that large companies want to be part of the Bitcoin movement:
This increase in the number of participants suggests that large companies either want some piece of the action and/or have no problem being publicly associated with it anymore.
The additions come amid the excellent performance demonstrated by both IBIT and Fidelity’s Wise Origin Bitcoin Fund (FBTC) since their launches. According to Bloomberg data, these two spot Bitcoin ETFs outperformed 3,122 other funds by recording 49 consecutive days of net inflow.
