Jane Street Emerges as Broker of Choice for Bitcoin-ETF Issuers

Jane Street, the firm where FTX’s Sam Bankman-Fried learned how to trade, is so far the broker-dealer of choice for issuers of proposed exchange-traded funds that aim to invest directly in Bitcoin.

Fidelity and WisdomTree named Jane Street Capital as their “authorized participant,” the industry’s term for the firm that’s responsible for steering cash into and out of ETFs. BlackRock also named Jane Street as well as JPMorgan Securities as its authorized participants should its proposed spot-Bitcoin fund receive regulatory approval, according to an amended prospectus filed with the Securities and Exchange Commission on Friday. Valkyrie said in its own ...