BlackRock in talks with market makers over liquidity of its Bitcoin spot ETF, CoinDesk says

Fund management titan BlackRock is in talks with several large trading firms that want to provide liquidity for its proposed spot bitcoin ETF (exchange-traded fund) if it gains regulatory approval, CoinDesk reported.

Trading giants Jane Street, Virtu Financial, Jump Trading and Hudson River Trading have held talks with BlackRock about the role of market maker for their bitcoin spot. ETF, the CoinDesk story said, citing a person familiar with the matter.

These companies play a vital role in providing liquidity, connecting buyers and sellers, as well as assisting in the creation and redemption of ETF shares.

The talks are another indication that applications for spot bitcoin ETF products are moving forward, suggesting that fund managers are optimistic about their regulatory approval.

In support of a bitcoin spot ETF

Black Rock and Jane Street declined to comment, while Virtu Financial, Jump Trading and Hudson River Trading did not immediately respond to a request for comment, according to the story.

bitcoin ETF Fake News Spurred btc Rally

btc price has soared in recent weeks after incorrect reports indicating that BlackRock’s spot bitcoin ETF could be approaching bitcoin-etf-review/”>Securities and Exchange Commission (SEC) approval.

NEW: Larry Fink, CEO of BlackRock, at the @Cointelegraph report and crypto?src=hash&ref_src=twsrc%5Etfw”>#crypto:

“I’ve been busy all day, I only heard about it an hour ago.”

“It’s an example of the pent-up interest in cryptocurrencies.”

“We are hearing from customers around the world talking about the need for cryptocurrencies.”

“Cryptocurrencies will play the…

-Eleanor Terrett (@EleanorTerrett) October 16, 2023

The asset manager’s CEO Larry Fink said earlier this month that the rally sparked by fake news proved there is a “need for cryptocurrency.”

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