Goldman eyes Bitcoin ETF in SEC talks

Berto
January 4, 2024

Goldman Sachs is in discussions to be an authorised participant in the hotly anticipated spot bitcoin exchange-traded funds (ETFs) planned by BlackRock and Grayscale, CoinDesk reported yesterday.

People familiar with the talks said Goldman aims to create and redeem shares in the funds, ensuring they track the price of the cryptocurrency if approved by the SEC. The regulator has rejected previous spot bitcoin ETF applications but is expected to announce decisions on 14 active filings by Jan. 10, including an ETF proposed by Ark and 21Shares.

SEC approval would allow mainstream investors access to bitcoin exposure without direct cryptocurrency purchases. Goldman declined to comment, while BlackRock and Grayscale did not immediately respond to requests. The bank’s involvement may boost prospects for regulatory sign-off amid continued concerns over potential manipulation.

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