© Reuters.
NEW YORK – Grayscale Investments is currently in talks with major financial institutions Goldman Sachs (NYSE:) and JPMorgan (NYSE:) regarding their potential roles as authorized participants for its upcoming Spot ETF.
Goldman Sachs is not only considering a partnership with Grayscale, but also similar positions for other Bitcoin ETFs, including those offered by investment management firm BlackRock (NYSE:).
If Goldman Sachs moves forward, it will be responsible for handling equity transactions for these funds, marking a significant move into the cryptocurrency space for the bank. This would align Goldman Sachs’ operations with those of JPMorgan, which has already established its presence in the crypto market.
The involvement of these established financial entities reflects a broader movement among traditional financial firms to enter the cryptocurrency investment arena. As discussions progress, the potential collaboration between Grayscale Investments and these leading banks could pave the way for greater institutional participation in the cryptocurrency market.
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