Grayscale’s latest spot Bitcoin ETF amendment omits authorized participants

Grayscale filed its latest amended spot Bitcoin ETF application with the SEC but left out details of authorized participants permitted to create and redeem shares.

Cryptocurrency asset manager Grayscale has filed an amended application with the United States Securities Exchange Commission for its Bitcoin 
BTC
$45,037
 exchange-traded fund (ETF), without listing authorized participant details.Bloomberg senior ETF analyst Eric Balchunas flagged the amended filing on X (formerly Twitter), noting that the company had clarified that authorized participants in its proposed ETF could only pay and receive cash for shares.
Authorized participants are financial institutions or companies that can create and redeem shares of an ETF.
Balchunas highlighted that Grayscale left the names of its authorized participants blank in the amended documentation:
“Not sure why since SEC wants to see it and they have been pretty cocksure about having one. Also, nothing on fee (that I could see). That’s big open [question] too.”