贝莱德通过扩大授权参与者提高 IBIT 比特币 ETF 流动性

贝莱德正在扩大其 IBIT 比特币交易所交易基金 (ETF)，新增 5 名授权参与者 (AP)，使总数达到 9 名。 Citadel 证券、高盛、荷兰银行、花旗集团和瑞银将加入现有的 AP 行列，以增强 ETF 的流动性，并为投资者提供更强大的平台。

BlackRock Enhances Liquidity for IBIT Bitcoin ETF with Strategic Expansion of Authorized Participants

贝莱德通过战略性扩大授权参与者增强 IBIT 比特币 ETF 的流动性

In a significant move to bolster the liquidity of its exchange-traded fund (ETF) linked to Bitcoin, BlackRock Inc. has appointed five additional Authorized Participants (APs) to its roster. The new additions elevate the total number of APs for the iShares Bitcoin Exposure ETF (IBIT) to nine, indicating a concerted effort to enhance market depth and accessibility.

为了增强与比特币挂钩的交易所交易基金 (ETF) 的流动性，贝莱德公司 (BlackRock Inc.) 又任命了五名授权参与者 (AP) 为其名册。新增加的成员将 iShares Bitcoin Exposure ETF (IBIT) 的 AP 总数增加至 9 个，表明​​各方共同努力增强市场深度和可及性。

The latest APs joining BlackRock's IBIT ETF include industry heavyweights such as Citadel Securities LLC, Goldman Sachs & Co. LLC, ABN AMRO Clearing USA LLC, Citigroup Global Markets, Inc., and UBS Securities LLC. These esteemed institutions join existing APs JP Morgan Securities LLC, Jane Street Capital, Virtu Americas LLC, and Macquarie Capital (USA) Inc. Notably, the Sponsor, iShares Delaware Trust Sponsor LLC, retains the authority to expand this roster further at any time.

最新加入贝莱德 IBIT ETF 的参与者包括 Citadel Securities LLC、Goldman Sachs & Co. LLC、ABN AMRO Clearing USA LLC、Citigroup Global Markets, Inc. 和 UBS Securities LLC 等行业重量级公司。这些受人尊敬的机构加入了现有的 AP 摩根大通证券有限责任公司（JP Morgan Securities LLC）、Jane Street Capital、Virtu Americas LLC 和麦格理资本（美国）有限公司（Macquarie Capital (USA) Inc.）。值得注意的是，保荐人 iShares Delaware Trust Sponsor LLC 保留随时进一步扩大该名册的权力。

The primary role of APs in the ETF ecosystem is to facilitate the creation and redemption of ETF shares. These entities, often prominent banks or brokerage firms, play a crucial role in ensuring adequate liquidity for ETFs by holding a substantial portion of the underlying assets. They employ a creation and redemption mechanism that dynamically adjusts the supply of ETF shares in response to market demand, ensuring a healthy balance between supply and demand.

AP 在 ETF 生态系统中的主要作用是促进 ETF 份额的创建和赎回。这些实体通常是知名银行或经纪公司，通过持有大量基础资产，在确保 ETF 充足的流动性方面发挥着至关重要的作用。他们采用创设和赎回机制，根据市场需求动态调整ETF份额的供应量，确保供需之间的健康平衡。

The addition of multiple APs is expected to significantly enhance the liquidity of BlackRock's IBIT ETF shares. The inclusion of major institutions like UBS, Citigroup, and Goldman Sachs underscores the growing interest among traditional financial institutions in Bitcoin, a testament to the increasing trust these players place in regulated products that enable seamless entry into the cryptocurrency sector.

多个AP的加入预计将显着增强贝莱德IBIT ETF股票的流动性。瑞银、花旗集团和高盛等主要机构的加入凸显了传统金融机构对比特币日益浓厚的兴趣，这证明了这些参与者对能够无缝进入加密货币领域的受监管产品越来越信任。

Since its inception in January, BlackRock's IBIT ETF has witnessed remarkable success, garnering significant investor attention. As of the time of writing, IBIT's Assets Under Management (AUM) stand at an impressive $17.24 billion, with a 24-hour volume of $268 million. This places IBIT as the second-largest Bitcoin ETF in terms of AUM, trailing only Grayscale's GBTC with $24.33 billion in AUM and a 24-hour volume of $90.7 million.

自1月份推出以来，贝莱德IBIT ETF取得了巨大成功，吸引了投资者的广泛关注。截至撰写本文时，IBIT 的管理资产 (AUM) 达到令人印象深刻的 172.4 亿美元，24 小时交易量为 2.68 亿美元。这使得 IBIT 成为资产管理规模第二大的比特币 ETF，仅次于 Grayscale 的 GBTC，资产管理规模为 243.3 亿美元，24 小时交易量为 9070 万美元。

Despite waiving its management fee, VanEck's spot Bitcoin ETF continues to face challenges, with its AUM lagging behind at $38.2 million and a 24-hour volume of $1.6 million. Interestingly, VanEck has expressed belief that an ETF tracking Ether (ETH) could potentially attract even greater interest than Bitcoin's. Pranav Kanade, VanEck's Portfolio Manager, has stated that "ETH could make more sense as an asset to more people than Bitcoin does." However, it remains uncertain whether the SEC is willing to approve any spot ETH ETF applications, given its repeated delays in adjudicating such proposals.

尽管免除了管理费，VanEck 的现货比特币 ETF 仍然面临挑战，其 AUM 为 3820 万美元，24 小时交易量为 160 万美元。有趣的是，VanEck 表示相信追踪以太币 (ETH) 的 ETF 可能会比比特币吸引更大的兴趣。 VanEck 的投资组合经理 Pranav Kanade 表示，“对于更多人来说，ETH 作为一种资产比比特币更有意义。”然而，鉴于 SEC 在裁决此类提案时一再拖延，目前仍不确定 SEC 是否愿意批准任何现货 ETH ETF 申请。

BlackRock's crypto-related ambitions extend beyond its IBIT ETF. The firm recently launched the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), its first tokenized fund built on a public blockchain. BUIDL enables the investment of dollar-based funds in a range of products, including repurchase agreements and Treasury bills, through the Ethereum blockchain. BlackRock pegged the BUIDL token to the US dollar on a 1:1 basis, ensuring stability and the distribution of dollar-based yields to investors. Within a week of its launch, the BUIDL fund attracted inflows exceeding $160 million.

贝莱德在加密货币方面的野心超出了其 IBIT ETF 的范围。该公司最近推出了贝莱德美元机构数字流动性基金（BUIDL），这是其第一个基于公共区块链的代币化基金。 BUIDL 支持通过以太坊区块链将美元资金投资于一系列产品，包括回购协议和国库券。贝莱德将 BUIDL 代币与美元以 1:1 的比例挂钩，确保稳定性以及向投资者分配基于美元的收益率。 BUIDL 基金推出一周内，吸引了超过 1.6 亿美元的资金流入。

This strategic expansion of Authorized Participants for IBIT ETF represents a concerted effort by BlackRock to enhance market depth, increase liquidity, and expand access to its Bitcoin-linked fund. The inclusion of major financial institutions signals the growing recognition and trust that traditional players have in the crypto sector and regulated products that facilitate their entry. BlackRock's continued innovation, including the launch of the BUIDL fund, further solidifies its position as a dominant force in the evolving digital asset landscape.

IBIT ETF 授权参与者的这一战略扩张代表了贝莱德为增强市场深度、增加流动性并扩大其比特币相关基金的使用范围而做出的共同努力。主要金融机构的加入标志着传统参与者对加密货币领域以及促进其进入的受监管产品的认可和信任日益增强。贝莱德的持续创新，包括推出BUIDL基金，进一步巩固了其在不断发展的数字资产领域的主导力量地位。