BlackRock updated the prospectus for its Bitcoin exchange-traded fund (ETF)

As you may already know, Bitcoin price action continues in a sideways and accumulation range between $66,000 and $68,000 which has somehow created a sort of tranquility among bullish traders, who have undoubtedly taken a breather prior to Bitcoin's halving.

In another order of ideas and in attention to information uploaded by Ana Paula Pereira, the largest asset management company in the world BlackRock updated its Bitcoin ETF with 5 Wall Street companies, it has been made known that among the new additions of BlackRock are ABN AMRO, Citadel Securities, Citigroup Global Markets, Goldman Sachs and UBS Securities.

Also noted Pereira in his article that, "The new members include ABN AMRO Clearing, Citadel Securities, Citigroup Global Markets, Goldman Sachs and UBS Securities, according to the document amending BlackRock's S-1 registration statement with the U.S. Securities and Exchange Commission."

Namely, "Authorized participants play a crucial role in the operating mechanism of the BTC ETF, as they can create and redeem ETF shares, which involves exchanging ETF shares for a corresponding basket of securities that reflect ETF holdings or converting them into cash."

Separately, it was released that "Bitcoin ETFs experienced a surge in trading volume in March, reaching USD 111 billion, while some analysis suggests that demand for the product is cooling. BlackRock's IBIT continues to dominate trading volume and assets under management, followed by funds from Grayscale and Fidelity."

Cointelegraph. BlackRock updates Bitcoin ETF, adds 5 Wall Street firms. Link

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