Grayscale in talks with JPMorgan, Goldman Sachs for Bitcoin ETF role: Report

Bloomberg reported on Jan. 4 that Grayscale held talks with both investment banks for the role, citing sources familiar with the matter. It comes less than a week after Grayscale filed an amended S-3 application with the United States Securities and Exchange Commission but didn’t list any authorized participants.
Meanwhile, an earlier media report also suggests Goldman Sachs is in discussion with BlackRock to act as an authorized participant for its ETF, citing sources familiar with the matter.
BlackRock previously amended its S-1 filingto name quantitative trading firm Jane Street and JPMorgan as authorized participants in its proposed ETF.  
An authorized participant plays a key role in managing an ETF, as it facilitates the creation and redemption of shares in the fund. An ETF issuer can name multiple financial firms to act as authorized participants.
Notably, ETF applicants aren’t required to name authorized participants in their S-1 or S-3 filings, meaning that other financial firms could still come on board.