• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

BlackRock and Coinbase: Improving Bitcoin ETF

user avatar

by Giorgi Kostiuk

2 years ago

  1. The Story of Bitcoin ETF and BlackRock
  2. Resolving the Coinbase Situation
  3. Expert Comments


    4. BlackRock, managing $9.1 trillion in assets, has recently been under the spotlight due to its Bitcoin ETF and collaboration with Coinbase.

    The Story of Bitcoin ETF and BlackRock

    BlackRock has long been a magnet for conspiracy theorists, especially following the recent release of its Bitcoin ETF. Social media posts claimed that BlackRock forced Coinbase to deposit Bitcoin directly on-chain after suspecting the sale of 'paper BTC' to ETF issuers.

    Resolving the Coinbase Situation

    Eric Balchunas, senior ETF analyst for Bloomberg, clarified that BlackRock simply needed to reconcile the data on its end. The financial giant runs its own blockchain node, validating coins held by IBIT by pulling the balances from their addresses on Coinbase Prime, the institutional brokerage arm of the largest US exchange. This data can be shown to institutional clients upon request but is not publicly available due to spam concerns.

    Expert Comments

    Eric Balchunas noted that BlackRock's operations are far from amateurish: the company manages around 500 ETFs storing holdings with custodians and has been doing this for decades without a hitch. Adam Cochran, partner at Cinneamhain Ventures, explained that BlackRock and Coinbase’s collaboration to push competitive settlement timelines for commodity ETPs is a positive development for the market.

    The collaboration between BlackRock and Coinbase aims to improve the reliability and transparency of Bitcoin ETFs, as supported by expert comments.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Bitmine Immersion Technologies Boosts Staked ETH by 112,040

chest

Bitmine Immersion Technologies has staked an additional 112,040 ETH, bringing its total holdings to over 3.7 million ETH.

user avatarSatoshi Nakamura

Ethereum Network Fees Surge as Demand for Block Space Increases

chest

Ethereum network fees have surged again, signaling rising demand for block space as users seek faster transaction processing.

user avatarKofi Adjeman

Ethereum Foundation Unstakes Over $489 Million in ETH

chest

Ethereum Foundation unstaked over 489 million in ETH, indicating a strategic shift in asset management.

user avatarNguyen Van Long

BRICS Meeting Addresses Regional Conflicts and Economic Strategies

chest

Deputy foreign ministers from BRICS member states convened to discuss regional conflicts and economic strategies, emphasizing the need for peace and cooperation.

user avatarJesper Sørensen

BRICS India Cost Surge Reshapes Economic Strategies

chest

The BRICS bloc is facing economic pressure due to rising costs, especially after disruptions in Iran's energy corridors, with India incurring an estimated $4 billion in additional monthly costs.

user avatarRajesh Kumar

California Man Sentenced for Laundering Stolen Cryptocurrency

chest

A 22-year-old man from California, Evan Tangeman, was sentenced to 70 months in federal prison for laundering millions of dollars in stolen cryptocurrency proceeds.

user avatarLucas Weissmann

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.