The world’s largest asset manager, BlackRock, has added five new giant participants to the spot Bitcoin exchange-traded fund (ETF).
BlackRock announced on Friday, 5th of April that they have added five new participants to their spot Bitcoin ETF (IBIT). Among these new participants are the financial sector giants Citadel, Goldman, Sachs, UBS, and Citigroup.
The increase in the total number of participants from four to nine was interpreted to enhance the liquidity and accessibility of the spot Bitcoin ETF. The previous four participants included Jane Street Capital, JP Morgan Securities, Macquarie Capital (USA) Inc., and Virtu Americas.
Bloomberg ETF analyst Eric Balchunas, who made comments on the matter, expressed that large companies want to be part of the Bitcoin movement:
Given the increase in the number of participants, it seems that large companies either want some action and/or have no problem in being publicly associated with it anymore.
The additions come in the midst of the excellent performance shown by both IBIT and Fidelity’s Wise Origin Bitcoin Fund (FBTC) since their launches. According to Bloomberg data, these two spot Bitcoin ETFs have outperformed other 3,122 funds by recording net inflows for 49 consecutive days.
