Grayscale Investments is reportedly in talks with JPMorgan and Goldman Sachs to take on the role of authorized participants for its proposed spot Bitcoin ETF. Authorized participants play a key role in managing ETFs by facilitating the creation and redemption of fund shares. Issuers can name multiple financial firms for this role. Goldman Sachs' potential involvement would mark a step forward from its historically neutral stance on cryptocurrencies, while JPMorgan has already been named as an authorized participant for several other proposed spot BTC ETFs.