Blackrock, the world's largest asset manager, has filed an amendment to the prospectus of its spot Bitcoin exchange-traded fund (ETF), the iShares Bitcoin Trust (IBIT), adding nine authorized participants including Citigroup Global Markets, Goldman Sachs, UBS Securities, and Citadel Securities. IBIT's Bitcoin holdings have climbed to nearly 260,000 BTC, underscoring its dominance in the rapidly growing crypto ETF market.
Nine Authorized Participants Join IBIT
According to the filing submitted to the U.S. Securities and Exchange Commission (SEC) on April 5, the full list of authorized participants for IBIT now includes: ABN AMRO Clearing USA, Citadel Securities, Citigroup Global Markets, Goldman Sachs, Jane Street Capital, JP Morgan Securities, Macquarie Capital (USA), UBS Securities, and Virtu Americas. These institutions are responsible for creating and redeeming shares of the ETF, with a block of 40,000 shares constituting a "basket."
Initially, the prospectus filed on January 9 (the day before SEC approval of 11 spot Bitcoin ETFs) listed only Jane Street Capital, JP Morgan Securities, Macquarie Capital (USA), and Virtu Americas. The March 4 amendment added ABN AMRO Clearing USA, Citigroup, Goldman Sachs, and UBS. The latest revision brings in Citadel Securities, expanding the total to nine. The inclusion of major Wall Street players signals deepening institutional involvement in the Bitcoin ETF ecosystem.
Bitcoin Holdings Near 260K, Fastest-Growing ETF Ever
Since IBIT launched on January 11, Blackrock has been aggressively accumulating Bitcoin. As of Thursday, the trust held nearly 260,000 BTC. CEO Larry Fink recently stated that he is "very bullish on the long-term viability of Bitcoin" and emphasized that IBIT is "the fastest growing ETF in the history of ETFs," adding that "nothing has gained assets as fast as IBIT." Robert Mitchnick, Blackrock's head of digital assets, noted that for the firm's clients, "Bitcoin is overwhelmingly the number one priority — and then a little bit Ethereum, and very little everything else."
Institutional Adoption Accelerates
The expansion of authorized participants — particularly the inclusion of Citigroup, Goldman Sachs, UBS, and Citadel — strengthens IBIT's market-leading position. These institutions not only provide liquidity but also represent a seal of approval from traditional finance for Bitcoin as an institutional-grade asset. Analysts believe that the addition of top-tier market makers and banks will significantly enhance the trading depth and compliance standards of Bitcoin ETFs, attracting more long-term capital from pension funds and endowments.
Blackrock's client demand trends underscore Bitcoin's dominance over Ether and other cryptocurrencies, reflecting a growing preference among institutional investors for the most liquid and well-established digital asset. The convenience and regulatory clarity of spot Bitcoin ETFs are bridging the gap between traditional finance and the crypto world.
As of press time, Bitcoin is trading near $69,000, and IBIT's total market value exceeds $18 billion. The market is closely watching whether Blackrock will further expand its authorized participant list and when IBIT's holdings will breach the 300,000 BTC milestone.