Coinbase Becomes Custodian for Spot Bitcoin ETFs
Coinbase has been chosen as the custodian for eight spot Bitcoin exchange-traded funds (ETFs) that were recently approved by the U.S. Securities and Exchange Commission (SEC). This decision is seen as a significant milestone in the integration of cryptocurrencies into mainstream financial markets.
Regulated Bitcoin ETFs Expand Crypto Access
The SEC’s approval of 11 spot Bitcoin ETFs, including eight in partnership with Coinbase, is expected to drive crypto adoption and provide investors with regulated access to cryptocurrencies. The approval paves the way for the entry of the largest asset managers into the crypto market, allowing U.S. investors to diversify their portfolios through spot Bitcoin ETFs.
Cathie Wood Criticizes SEC Chair’s Comments on Crypto
While the SEC’s approval is encouraging, there has been backlash against Chair Gary Gensler’s attitude towards Bitcoin and crypto. Gensler’s statement that the SEC did not approve or endorse Bitcoin drew criticism from ARK Invest CEO Cathie Wood, who expressed disappointment and described his comments as denigrating the entire crypto space.
Hot Take: Coinbase Strengthens Position with Spot Bitcoin ETF Custodianship
Coinbase’s selection as custodian for eight spot Bitcoin ETFs following SEC approval solidifies its presence in the growing crypto market. The move not only provides investors with regulated access to cryptocurrencies but also opens up new opportunities for widespread adoption. With millions of new investors gaining convenient access to crypto through ETFs, this development cements cryptocurrencies as a mainstream asset class.
By
By
By
By
By