Bitcoin ETF Consortium: BlackRock and Valkyrie Announce Authorized Participants, Including JPMorgan

In the latest developments within the cryptocurrency investment landscape, BlackRock and Valkyrie, the two contenders vying for approval of a spot Bitcoin exchange-traded fund (ETF), have publicly disclosed their authorized participants.

According to recently submitted filings, BlackRock, unable to directly engage in cryptocurrency transactions, has strategically chosen J.P. Morgan and Jane Street as their authorized participants. In a similar vein, Valkyrie has revealed Jane Street and Cantor Fitzgerald as their designated participants for the pending Bitcoin ETF.

This move to unveil the authorized participants through updated S-1 forms, while not mandatory, distinguishes BlackRock and Valkyrie as the only applicants thus far to provide this information. Notably, BlackRock's partnership with J.P. Morgan raised eyebrows among industry observers, given the well-known skepticism and opposition towards Bitcoin expressed by J.P. Morgan's CEO, Jamie Dimon. Just this month, Dimon publicly reiterated his strong stance, going as far as stating his hypothetical ban on cryptocurrencies if he were a government official.

The anticipated decision by the Securities and Exchange Commission (SEC) on the approval of the spot Bitcoin ETF is scheduled to unfold between January 5 and 10, injecting an element of suspense into the cryptocurrency investment landscape. As the industry eagerly awaits this regulatory verdict, the revealed partnerships of BlackRock and Valkyrie with their authorized participants set the stage for potential transformations in the landscape of cryptocurrency investment products.

Read More: Valkyrie Pauses Ether Futures Purchases Pending SEC ETF Approval