Goldman Sachs Teams Up with “Big Names” for Spot Bitcoin ETFs Approval

The post Goldman Sachs Teams Up with “Big Names” for Spot Bitcoin ETFs Approval appeared first on Coinpedia Fintech News

Goldman Sachs is talking with BlackRock and Grayscale Investments about joining their team for a special role in creating bitcoin exchange-traded funds (ETFs). If things go well, Goldman Sachs could be a key player, helping to make it easier for people to buy and sell these investment funds.

Key “AP” Role of Goldman Sachs

Goldman Sachs is eyeing to play a big role in making Bitcoin ETFs with BlackRock, the largest asset manager globally, and Grayscale Investments, known for managing a huge Bitcoin investment fund. 

If everything gets approved, this could be a game-changer in how regular folks can invest in Bitcoin. Meanwhile, There’s a big decision coming from the Securities and Exchange Commission (SEC) about whether these special bitcoin investment funds can be created. 

Goldman Sachs wants to be right there, ready to help if the SEC gives the green light. As this decision is expected to come between January 8 and January 10.

More Big Players Joining

However, Goldman Sachs is not the only big name that getting involved. Other major banks like JPMorgan Chase, Jane Street, and Cantor Fitzgerald are also joining in. This shows that big traditional banks are becoming more interested in using digital currencies like bitcoin for investments.

Earlier, the big banks which were a bit hesitant about dealing with cryptocurrencies, are now getting invited to the Bitcoin investment party. They can now be part of it because of a new way of handling Bitcoin that makes it easier for the SEC to say yes. 

As Goldman Sachs explores this strategic move, the collaboration with BlackRock and Grayscale represents a convergence of financial giants pouring billions into the crypto space.