According to a source familiar with the matter, some of the largest market-makers in the global financial industry, including Hudson River Trading, Jane Street, and Virtu Financial, are in talks with BlackRock to offer liquidity if the firm’s spot Bitcoin Exchange Traded Fund (ETF) application is approved by the US Securities and Exchange Commission (SEC). CoinDesk reported on Tuesday that these market-makers are considering taking on a market-making role for BlackRock’s Bitcoin ETF.
BlackRock initially applied for the establishment of a spot Bitcoin ETF in June, and this move prompted numerous other asset managers to follow suit with their own applications. This influx of applications generated optimism about renewed institutional interest in Bitcoin, bolstering risk appetite in the market. However, concerns about market liquidity have been raised.
