The Latest Breaking News from BlackRock

Key U.S. financial institutions, such as JP Morgan, Jane Street Capital, Virtu Americas and Cantor Fitzgerald, are among the authorized participants for spot Bitcoin ETF issuers.

The investment bank would serve as an “authorized participant” for the exchange-traded funds.

Last week, BlackRock once again amended its S-1 form, this time naming JP Morgan and Jane Street Capital as the authorized participants.

More information about the SEC and the timeline of its possible announcement of spot Bitcoin ETF approvals surfaced online this week.

Issuers including Fidelity and Galaxy are jockeying for position to gain an early advantage in the Bitcoin race.

It was reported last week that the SEC may inform hopeful issuers this Tuesday or Wednesday whether they are cleared to launch their spot Bitcoin ETF.

Last week, U.S. prosecutors decided not to pursue additional charges against Bankman-Fried, the former CEO of the fallen crypto empire FTX who was found guilty of seven counts of fraud in November.

The naming of the AP could be tricky, according to an ETF analyst because the SEC not only wants them identified in the documents but requires issuers to make the AP the underwriter of the spot Bitcoin ETF.

Dimon made headlines last month when he vocally criticized Bitcoin, the world's largest crypto asset by market capitalization, saying he would "close down" BTC if he was the one running the U.S. government as the crypto asset, along with other cryptocurrencies, is used by criminals.

Bitwise, one of the aspiring companies in the race, has recently submitted its updated S-1 Form, revealing its planned $200 million seed investment for its spot BTC offering.

Blackrock recently launched ETFs that make it easier to invest in TIPS and build a bond ladder.