With the latest update to BlackRock's filing for the Bitcoin spot ETF, JPMorgan also comes into play as an "authorized participant" (AP)

JPM also enters the Bitcoin ETF saga

Not even a month ago, Jamie Dimon, CEO of JPMorgan, declared in front of US government officials (including Elizabeth Warren) that if he had the power he would ban the cryptocurrency sector in its entirety.

In the last few hours, however, JPMorgan ended up being included as an "authorized participant" (AP) in BlackRock's new filing presented to the SEC, i.e. as an institution authorized to interact directly with the manager of the BTC spot ETF to create and redeem the shares of the product. Jane Street also appears together with JPM, but was already expected by most analysts.

“JPMorgan… pretty funny,” Bloomberg analyst James Seyffart commented on the matter.

BTC spot ETF: the final act is coming

In any case, this last event also only decreases the distance that separates the approval of the new ETF, and at this point a negative scenario could only be created due to government intervention. Precisely for this reason, today we no longer even talk about "approval", but about the actual launch of these products.

Even with respect to problems of a technical nature, such as ETF creation and redemption models, applicants and the SEC seem to have found an agreement in recent weeks, and the appointment of the APs by BlackRock seems to be the definitive signal.

Soon after BR, applicants such as Valkyrie, Bitwise, Fidelity, Invesco, Wisdomtree and Franklin Tempton also updated their filings,

The crypto industry has been waiting for a Bitcoin spot ETF for years, and the SEC appears to be finally leaning towards allowing its launch. The president himself, Gary Gensler, had opened up on the issue by declaring that he was "examining" the requests, which could have the definitive answer in these days.