{"url":"https://etfiq.com/trading/authorized-participants/btig/","section":"trading","title":"BTIG: ETF Authorized Participant (AP) | ETFIQ","description":"BTIG, LLC was an authorized participant (AP) for 2 US ETFs in Form N-CEN periods ending Oct 31 to Nov 30, 2025. Facts only.","as_of":"Sep 23, 2026","structured_data":[{"@type":"Corporation","name":"BTIG, LLC","url":"https://etfiq.com/trading/authorized-participants/btig/","sameAs":["https://www.btig.com/"],"leiCode":"549300GTG9PL6WO3EC51","identifier":[{"@type":"PropertyValue","propertyID":"FINRA CRD","value":"122225"},{"@type":"PropertyValue","propertyID":"SEC file number","value":"8-65473"}],"description":"An investment bank and brokerage offering advisory, capital markets, trading, prime brokerage and research to institutions."},{"@type":"ItemList","name":"ETFs BTIG, LLC serves as an authorized participant","numberOfItems":2,"itemListOrder":"https://schema.org/ItemListOrderDescending","itemListElement":[{"@type":"ListItem","position":1,"name":"NSI","url":"https://etfiq.com/funds/nsi"},{"@type":"ListItem","position":2,"name":"DYLD","url":"https://etfiq.com/funds/dyld"}]},{"@type":"DefinedTerm","name":"authorized participant","alternateName":["AP","authorised participant"],"description":"A broker-dealer that has an agreement with an ETF to create new shares by delivering a basket of securities or cash to the fund, and to redeem shares by handing them back.","inDefinedTermSet":"https://etfiq.com/methodology/authorized-participants#glossary"},{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Is BTIG an ETF authorized participant (AP)?","acceptedAnswer":{"@type":"Answer","text":"Yes. BTIG, LLC is listed as an AP for 2 US ETFs in Form N-CEN periods ending Oct 31 to Nov 30, 2025, and created or redeemed shares in 2 of them."}},{"@type":"Question","name":"Which ETFs does BTIG create and redeem the most?","acceptedAnswer":{"@type":"Answer","text":"By dollars created and redeemed: NSI, $8.8m; DYLD, $4.5m."}},{"@type":"Question","name":"How much of an ETF\u2019s AP activity does BTIG handle?","acceptedAnswer":{"@type":"Answer","text":"Across the 2 funds it was active in, its share of each fund\u2019s AP dollars ran from 19.0% to 39.0%. It was the only active AP in 0 ETFs."}},{"@type":"Question","name":"Where do these figures come from?","acceptedAnswer":{"@type":"Answer","text":"From item E.2 of each ETF\u2019s latest Form N-CEN, which names its APs and the dollars each created and redeemed. ETFIQ groups the rows by BTIG\u2019s CRD, SEC file number and LEI, never by the name as typed."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Authorized participants","item":"https://etfiq.com/trading/authorized-participants/"},{"@type":"ListItem","position":3,"name":"BTIG","item":"https://etfiq.com/trading/authorized-participants/btig/"}]},{"@type":"WebPage","name":"BTIG: ETF Authorized Participant (AP)","description":"BTIG, LLC was an authorized participant (AP) for 2 US ETFs in Form N-CEN periods ending Oct 31 to Nov 30, 2025. Facts only.","url":"https://etfiq.com/trading/authorized-participants/btig/","dateModified":"2026-09-23","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede",".faq"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":4483,"truncated":false,"content":"ETFIQ / Authorized participants / BTIG \n \n As of Sep 23, 2026 . From each ETF\u2019s latest Form N-CEN.\n BTIG, LLC\n BTIG, LLC was an authorized participant (AP) for 2 US ETFs in Form N-CEN periods ending Oct 31 to Nov 30, 2025. It created $8.8m and redeemed $4.5m of their shares. It was active in 2 of them.\n btig.com \n BTIG, LLC as an ETF authorized participant: all 2 funds it created or redeemed in, ranked by what it created and redeemed, in Form N-CEN periods ending Oct 31 to Nov 30, 2025. Source: ETFIQ from Form N-CEN. # Ticker Fund Category Created Redeemed Created and redeemed Share of the fund\u2019s AP dollars Active APs in the fund Period ending \n 1 NSI National Security Emerging Markets Index ETF Themes $8.8m $0 $8.8m 39.0% 3 Nov 30, 2025 \n 2 DYLD LeaderShares Dynamic Yield ETF Bonds $0 $4.5m $4.5m 19.0% 3 Oct 31, 2025 \n \n BTIG by category\n The ETFs BTIG, LLC serves, by the category each is placed in, with what it created and redeemed in each.\n BTIG by category, as of Sep 23, 2026. Source: ETFIQ from Form N-CEN. # Category Share of its dollars ETFs served Active in Created Redeemed Only active AP in \n 1 Bonds 33.9% 1 1 $0 $4.5m 0 \n 2 Themes 66.1% 1 1 $8.8m $0 0 \n \n Questions people ask\n Is BTIG an ETF authorized participant (AP)? Yes. BTIG, LLC is listed as an AP for 2 US ETFs in Form N-CEN periods ending Oct 31 to Nov 30, 2025, and created or redeemed shares in 2 of them. Which ETFs does BTIG create and redeem the most? By dollars created and redeemed: NSI, $8.8m; DYLD, $4.5m. How much of an ETF\u2019s AP activity does BTIG handle? Across the 2 funds it was active in, its share of each fund\u2019s AP dollars ran from 19.0% to 39.0%. It was the only active AP in 0 ETFs. Where do these figures come from? From item E.2 of each ETF\u2019s latest Form N-CEN, which names its APs and the dollars each created and redeemed. ETFIQ groups the rows by BTIG\u2019s CRD, SEC file number and LEI, never by the name as typed. Method\n BTIG, LLC is identified by CRD 122225, SEC file number 8-65473, LEI 549300GTG9PL6WO3EC51. It is on the SEC\u2019s list of active broker-dealers dated Oct 1, 2026 as BTIG, LLC. Funds filed its name 1 way; every spelling is in dealers.json. Every row is one authorized participant (AP) listed in item E.2 of an ETF\u2019s latest Form N-CEN, with the dollars of the fund\u2019s shares it purchased from the fund (created) and redeemed in the fund\u2019s reporting period, as filed. A fund\u2019s period is its own fiscal year, or less where the filing says so, so a firm\u2019s total adds periods that end on different days. Rows are grouped into firms by the identifiers each row carries: the CRD number first, the SEC file number and LEI where the CRD is missing or typed wrong, never by name. 71 of 75,056 rows carry a CRD their file number and LEI place on another firm, and are counted there. A firm\u2019s name is its registration on the SEC\u2019s list of active broker-dealers where it is on it. Spot crypto and commodity trusts and ETNs file no N-CEN and are not here.\n Where to next\n Most active APs for bond ETFs Most active APs for theme ETFs Every ETF authorized participant (AP) The most active APs Most active APs for U.S. stock ETFs Most active APs for international stock ETFs Most active APs for sector stock ETFs Most active APs for bond ETFs ETF lead market makers (LMMs) How the AP list is built The open data file Fund flows Where these figures came from\n SEC Form N-CEN data sets, the source of every AP row Form N-CEN, item E.2: each authorized participant and its dollars SEC list of active broker-dealers, the source of each firm\u2019s registered name ETFIQ links to the documents behind every figure; a link is not an endorsement.\n A list of firms is not a rating or a recommendation. ETFIQ is an independent publisher, not an adviser. Standards and sources \n Cite this page. ETFIQ, BTIG, LLC as an ETF authorized participant, data as of Sep 23, 2026. https://etfiq.com/trading/authorized-participants/btig/ Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data .\n Other forms Plain ETFIQ, BTIG, LLC as an ETF authorized participant, data as of Sep 23, 2026. https://etfiq.com/trading/authorized-participants/btig/ APA ETFIQ. (Sep 23, 2026). BTIG, LLC as an ETF authorized participant. Retrieved from https://etfiq.com/trading/authorized-participants/btig/ Markdown [BTIG, LLC as an ETF authorized participant (ETFIQ, Sep 23, 2026)](https://etfiq.com/trading/authorized-participants/btig/)","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, BTIG, LLC as an ETF authorized participant, data as of Sep 23, 2026. https://etfiq.com/trading/authorized-participants/btig/"}