[NEWS] BlackRock in talks with major market makers to secure liquidity for Bitcoin spot ETF

It has been reported that if the Bitcoin spot ETF of BlackRock, the world's largest asset management company, is approved by the SEC (US Securities and Exchange Commission), several major market makers may cooperate to ensure liquidity. CoinDesk reported on the 31st of last month.

According to the report, major companies such as trading giants Jane Street, Virtu Financial, Jump Trading, and Hudson River Trading are in discussions with BlackRock for market making. The companies have not commented.

According to a report by Benzinga, an overseas cryptocurrency information site, on the 27th of last month, Neel Maitra, a former member of the SEC's cryptocurrency division, said, "It seems likely that a Bitcoin spot ETF will be approved within the next few months and trading will begin."

According to him, a factor in favor of the approval of a Bitcoin spot ETF is the strong correlation with the Bitcoin futures ETF market.

Jay Clayton, former SEC Chairman, also recently spoke positively about the approval of a Bitcoin spot ETF in an interview with CNBC.

"The reason I said these (approval of a Bitcoin spot ETF) are inevitable is because many of the questions surrounding a Bitcoin spot ETF have been answered to the satisfaction of many sophisticated stakeholders and regulators," he said.

BlackRock's activities to obtain approval of a Bitcoin spot ETF are attracting a lot of attention. The cryptocurrency market has also been hit by the wave of BlackRock's moves and has started to move significantly. Due to expectations, the price of Bitcoin exceeded $35,000 (about 5.3 million yen) for the first time in a year.

BlackRock has listed the ticker "IBTC" for its Bitcoin spot ETF on the Depository Trust & Clearing Corporation (DTCC), which is based in financial markets around the world and handles everything from post-trade settlement and clearing for financial institutions in each country. This clearly indicates that SEC approval is imminent.

Source:CoinDesk,Benzinga
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