Virtu Financial Chosen as Market Maker for Bitcoin ETF
Main page News, Bitcoin-ETF

Virtu Financial, one of the world's largest trading firms, has been chosen as market maker for Canadian company Evolve's new Bitcoin ETF, The Block reports.

The ETF, which was approved last week by the Ontario Securities Commission (OSC), started trading on the Toronto Stock Exchange last Friday and has already accumulated $12M in assets under management.

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However, the fact that the market maker is a company as important as Virtu Financial, a public company worth around $5B, had been overlooked.

The market maker is responsible for supporting product liquidity and redemptions. Virtu will support large block trades in the product for institutions looking to place large positions.

It must be noted this is important news, as Virtu Financial had so far kept its distance from cryptocurrencies by avoiding dealing directly in spot Bitcoin until recently.

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