The asset manager's Bitcoin-based fund now has nine APs in total with this inclusion.

Updates on BlackRock's Bitcoin ETF
Known as the largest asset manager in the world, BlackRock now has APs for its spot Bitcoin ETF offering that include Citi, Citadel, Goldman Sachs, and UBS.

The data was made available via an addendum to the ETF's Form S-1, which was filed on April 5 to the Securities and Exchange Commission (SEC).

This decision comes after the SEC received updated paperwork for Bitcoin ETF applications from BlackRock and a number of other companies.

A number of significant financial firms, including BlackRock, Ark Invest/21Shares, VanEck, WisdomTree, Invesco, Fidelity, and Valkyrie, submitted updated S-1 forms to the U.S. Securities and Exchange Commission on January 8. This was thought to be the last phase of the approval procedure.

Sponsor fees and strategy changes were disclosed in the updated S-1 forms, which shed light on the financial frameworks underlying these possible spot Bitcoin ETFs.

For example, BlackRock established a sponsor fee of 0.3%, which is lowered to 0.2% for the first year or until the ETF's assets exceed $5 billion. WisdomTree selected a higher permanent charge of 0.5%, whereas VanEck selected one of the lowest permanent costs among issuers, at 0.25%.

Furthermore, it was revealed that ARK Invest and 21Shares will forego their 0.25% charge on the first $1 billion of transactions.

Exchange-traded fund (ETF) issuers often choose an AP, which is a sizable bank or financial business, to issue and redeem shares of ETFs.

Because they create and redeem ETF shares in response to market demand, APs play a crucial role in maintaining liquidity in the ETF market.

The tight alignment of ETF prices with the net asset value of the underlying assets is facilitated by this mechanism. These organizations get the necessary underlying assets to produce ETF shares and are compensated with a creation unit, which is a bundle of shares.

The appointment of approved participants by BlackRock for its spot Bitcoin exchange-traded fund (ETF) and the recent wave of modifications to already-existing spot BTC ETF applications point to a significant step forward for the U.S. Bitcoin ETF market. The upcoming weeks and months will be crucial in deciding how these applications turn out and how they could affect the bitcoin market.