Goldman Sachs is Negotiating with BlackRock and Grayscale on Spot BTC ETFs

Goldman Sachs is currently in discussions to become an authorized participant for spot bitcoin exchange-traded funds being considered for launch by BlackRock and Grayscale.

These ETFs would track the market price of the popular cryptocurrency, allowing investors to gain exposure without physically buying it.

With 14 asset managers vying for approval from the US Securities and Exchange Commission for such ETFs, the SEC is expected to announce its decision by January 10, when the deadline to approve or reject the Ark/21Shares ETF expires.

So far, the SEC has only approved bitcoin and ethereum futures-based ETFs. Both Goldman Sachs and BlackRock declined to comment on the matter, and Reuters’ request for comment from Grayscale went unanswered.

The SEC has rejected numerous attempts to launch spot bitcoin ETFs in the past decade, citing concerns about potential market manipulation and lack of protection for investors.