BlackRock, the New York-based investment giant managing around $9.42 trillion in assets as of June 30, 2023, has made changes to its spot Bitcoin exchange-traded fund (ETF) application. These amendments facilitate Wall Street banks' participation in the pending crypto investment vehicle while shifting risk to crypto market makers.
The company presented these adjustments to the U.S. Securities and Exchange Commission (SEC) in late October through its proposed "In-kind Redemption Prepay."
