Wall Street titan BlackRock today amended its much talked about Bitcoin exchange-traded fund (ETF) filing and named banking giant JP Morgan Securities and trading firm Jane Street as authorized participants. 

In the world of ETFs, an authorized participant is the organization that works with the issuer of the fund to create and redeem shares of a fund so that an investor can cash out. 

This, according to experts, is likely the last step of the application process for the long-awaited product after various reviews and amendments. 

BlackRock also last week amended its filing by saying its fund would allow for cash-only redemptions. 

The U.S. Securities and Exchange Commission had set a deadline of today for applicants to make amendments to their filings. 

At the time of writing, fund manager Valkyrie had also named quantitative trading firm Jane Street as one of its authorized participants. The other was Cantor Fitzgerald. 

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Author: Mathew Di Salvo

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