Rephrase and rearrange the whole content into a news article of 350 words. Make sure whole content is in narrative style with h2 and h3 headings and there is no plagiarism involved compare with the following article:
(Reuters) -Goldman Sachs is in talks to be an authorized participant for the spot bitcoin exchange-traded funds that BlackRock and Grayscale are looking to launch, CoinDesk reported on Wednesday, citing people familiar with the situation.
There are currently 14 asset managers hoping to finally win the U.S. Securities and Exchange Commission’s approval for spot bitcoin ETFs, which would track the market price of the underlying crypto asset, giving investors exposure to the token without having to buy the currency.
The SEC is expected to announce its decision by Jan. 10 – the deadline to either approve or reject the Ark/21Shares ETF. To date, the only crypto ETFs approved have been tied to futures contracts on bitcoin and ethereum.
Goldman Sachs and BlackRock declined to comment. Grayscale did not immediately respond to a request for comment from Reuters.
Over the last decade, the top U.S. markets regulator has rejected multiple attempts to launch these products, citing fears about market manipulation and an inability on the part of would-be issuers to protect investors.
An authorized participant has the right to create and redeem the shares of an ETF, and ensures the fund tracks the underlying asset.
(Reporting by Manya Saini in Bengaluru; Editing by Sriraj Kalluvila)
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