Market Makers Are in Discussions With BlackRock About Providing Liquidity for Their Proposed Spot Bitcoin ETF

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Last Updated on November 1, 2023 by Bitfinsider

If BlackRock’s proposed spot bitcoin exchange-traded fund receives regulatory approval, large trading firms are in talks to offer liquidity.

According to a BlackRock presentation deck examined by someone familiar with the situation, Jane Street, Virtu Financial, Jump Trading, and Hudson River Trading have apparently been in talks with BlackRock regarding a market-making role to offer that liquidity.

Market makers are required for ETFs in order to provide liquidity, match buyers and sellers, and assist in the creation and redemption of ETF shares.

Bitcoin’s value has risen rapidly in recent weeks as a result of speculation surrounding BlackRock’s highly anticipated spot bitcoin ETF, which is still being reviewed by the SEC.

BlackRock CEO Larry Fink stated earlier this month that a rise in bitcoin prices caused by a bogus news report claiming that its spot ETF had been approved was an example of “pent up interest in crypto.” A spot bitcoin ETF has yet to be approved by the SEC.

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