Goldman Sachs in talks to manage more bitcoin ETF shares: CoinDesk

Goldman Sachs was previously mentioned in a December amendment from Hashdex

share

Goldman Sachs is in talks to become an authorized participant for potential bitcoin ETFs to be issued by BlackRock and Grayscale, CoinDesk reported. 

A spot ETF would create regulated shares that follow bitcoin’s price without investors having to buy the asset directly. As a potential AP, Goldman Sachs would be responsible for the creation and redemption of ETF shares. 

CoinDesk’s report — citing unnamed sources — suggested that the investment bank could be interested in signing on as an AP for either BlackRock or Grayscale.

But this isn’t the first time Goldman Sachs has been mentioned alongside spot bitcoin ETFs. A Dec. 22 amendment to Hashdex’s S-1 lists Goldman Sachs as an “authorized purchaser.”

The Hashdex fund would continuously offer creation baskets at their net asset value to such entities, the filing notes. Authorized purchasers can then sell shares to the public. 

In addition to Goldman Sachs, Brazil-based Hashdex names Cantor Fitzgerald and JPMorgan Securities — both of which have been named as APs by other bitcoin ETF proposals — and others as authorized purchasers. 

BlackRock, the world’s largest asset manager, named Jane Street and JPMorgan as APs for its proposed ETF in a disclosure filed on Dec. 29, the US Securities and Exchange Commission’s reported deadline for changes to bitcoin fund applications. BlackRock’s spot ETF would feature cash creations and redemptions, per SEC filings. 

Grayscale is taking a different route to becoming a spot bitcoin ETF. It’s seeking to convert the Grayscale Bitcoin Trust (GBTC) to an ETF. Earlier this year, Grayscale was handed a win by an appeals court. A panel of judges ordered the SEC to reconsider the firm’s application. 

Read more: ‘Game on’: SEC opts not to appeal Grayscale’s court win

The firm has long been linked with Jane Street and Virtu Financial as potential APs, and CEO Michael Sonnenshein seemed to confirm the connection in a recent post on X, saying that his company has had APs lined up “since 2017.”  

However, an amendment to Grayscale’s S-3 earlier this week did not formally name any APs. 

Goldman Sachs potentially joining the bitcoin ETF orbit would make it the latest major financial firm to get on board, joining the likes of JPMorgan, BlackRock, Fidelity and BNY Mellon, among several others. 

Loading Tweet..

Ben Strack contributed reporting.

Goldman Sachs, BlackRock and Grayscale did not immediately return requests for comment.


Get the news in your inbox. Explore Blockworks newsletters:

  • Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
  • Empire: Start your morning with the top news and analysis to inform your day in crypto.
  • Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
  • 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
  • Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
  • The Drop: For crypto collectors and traders, covering apps, games, memes and more.
  • Supply Shock: Tracking Bitcoin’s rise from internet plaything worth less than a penny to global phenomenon disrupting money as we know it.
Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.png

Research

Fluid's hybrid money market & DEX protocol has grown rapidly since launch in December of 2024.

article-image

Should higher-fidelity graphics be the goal for crypto games — which result in much higher costs and risk?

article-image

From Mel B to Neil deGrasse Tyson, BTC has seen its share of strange celebrity sightings

article-image

Circle’s roadshow will be the real test for the stablecoin issuer

article-image

PitchBook’s Robert Le said crypto projects focused on institutional use cases are the focus

article-image

The decentralized AI firm designed ODS to be owned by the community in an effort to promote more decentralized AI

article-image

The non-profit’s launch and big-name hires aim to grow Solana’s footprint in Washington