Bitcoin ETF Performance Soars: BlackRock Adds Citadel, Citigroup, and Others to IBIT Authorized Participants List
BlackRock (貝萊德) takes action to expand market participation and liquidity by increasing the authorized participants (APs) for its Bitcoin spot ETF – IBIT. Since its launch on January 10, 2024, IBIT has consistently attracted the largest inflows among all related ETFs.
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Addition of Multiple Financial Giants
Benefits of Expanding Authorized Participants (APs)
IBIT Continues to Lead
Bitcoin ETF brings significant funds to BlackRock and Fidelity
Impact on Future Growth
Updated prospectus reveals
BlackRock has added five well-known financial institutions to its list of APs, increasing the original four to nine. The newly added institutions include ABN AMRO Clearing USA LLC, Citadel Securities LLC, Citigroup Global Markets, Inc., Goldman Sachs & Co. LLC, and UBS Securities LLC. These additional institutions will optimize the trust management services for ETF share creation and redemption processes.
Authorized participants play a crucial role in maintaining the efficiency of ETF operations. They facilitate seamless transfer of funds between the fund and the trust, ensuring efficient ETF operations and attractiveness to investors. The expansion of APs is expected to significantly enhance IBIT’s liquidity and make it more accessible to a diverse group of investors.
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Since their launch, BlackRock’s IBIT and Fidelity’s FBTC have performed exceptionally well, significantly surpassing other funds. These ETFs not only outperformed other funds but also set a rare record of consecutive 49 days of inflows in ETF history.
The continuous inflows into IBIT and FBTC, even during periods of Bitcoin price decline, highlight investors’ unwavering confidence in these products.
BlackRock’s IBIT has contributed over half of the company’s net inflows this year, which is twice the amount of any other of its 420 ETF products. Similarly, Fidelity’s FBTC has attracted 70% of its total inflows, with capital attracted five times more than any other Fidelity ETF.
Including these heavyweight financial players as authorized participants for the IBIT ETF not only highlights the increasing acceptance of Bitcoin mainstream but also reflects the growing demand for regulated investment channels to enter digital assets. This policy not only enhances the stability and growth prospects of the IBIT ETF but also solidifies the compliant status of cryptocurrencies as portfolio components.
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