BlackRock, a leading global asset manager, has updated the list of Authorized Participants (APs) for its spot Bitcoin exchange-traded fund (ETF), IBIT. This ETF, launched on January 11, 2024, allows investors to access Bitcoin exposure without directly owning the digital assets.

In the latest update, BlackRock has introduced five new Authorized Participants, increasing the total from four to nine. The new additions include ABN AMRO Clearing USA LLC, Citadel Securities LLC, Citigroup Global Markets, Inc., Goldman Sachs & Co. LLC, and UBS Securities LLC. APs play a vital role in ETF shares' creation and redemption, boosting IBIT's liquidity and accessibility for investors.

The previous APs listed were Jane Street Capital, LLC, JP Morgan Securities LLC, Macquarie Capital (USA) Inc., and Virtu Americas LLC. Additional APs may be incorporated at any time, at the Sponsor's discretion, per the prospectus.

The inclusion of reputable institutions like Goldman Sachs and Citigroup as Authorized Participants underscores the rising mainstream recognition of Bitcoin and the growing demand for regulated investment mediums providing exposure to digital assets.

This expansion coincides with the success of IBIT and Fidelity’s Wise Origin Bitcoin Fund (FBTC) since their launch. Data from Bloomberg reveals that these ETFs have outperformed thousands of funds by attracting net inflows for 49 days continuously, a milestone matched by only 30 other ETFs in history.

Despite Bitcoin price fluctuations, IBIT and FBTC have displayed robust investor interest, with IBIT accounting for over half of BlackRock's net flows year-to-date, surpassing inflows in their 420 ETFs combined by twofold. Similarly, FBTC has driven 70% of Fidelity’s total inflows, attracting five times more investment than any other Fidelity ETF. These Bitcoin ETFs demonstrate the mainstream acceptance of cryptocurrencies as significant assets, emphasizing the demand for regulated investment tools offering exposure to digital assets.

As the popularity of Bitcoin ETFs grows among investors, the inclusion of major firms in the Authorized Participant list signifies a positive step towards the fund's development and resilience.