BlackRock Maintains Current Crypto Custody with Coinbase for ETF

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Procedural Changes in Crypto Custody
  2. IBIT Bitcoin ETF and BlackRock's Partnership with Coinbase
  3. Efficient Asset Management for Bitcoin ETFs


    4. BlackRock's Head of Digital Assets, Robbie Mitchnick, stated in an interview with Bloomberg that there have been no significant changes to the company’s crypto custody arrangement with Coinbase for its IBIT spot Bitcoin ETF.

    Procedural Changes in Crypto Custody

    BlackRock made slight adjustments to its custody agreement with Coinbase, one of the leading cryptocurrency custody providers in the industry. The most notable change involves the requirement for Coinbase Custody to facilitate the withdrawal of cryptocurrency assets to a public blockchain address within 12 hours of receiving a directive. This procedural enhancement ensures high standards of efficiency and security for IBIT Bitcoin ETF.

    These changes are part of routine updates rather than a shift in custody strategy.Robbie Mitchnick

    IBIT Bitcoin ETF and BlackRock's Partnership with Coinbase

    IBIT spot Bitcoin ETF is one of BlackRock’s most closely watched products, offering institutional and retail investors exposure to Bitcoin through a regulated ETF structure. Coinbase Custody serves as the primary custodian for the ETF’s Bitcoin holdings, ensuring that assets are stored securely and processed efficiently when required. The recent amendment to the custody agreement highlights BlackRock’s commitment to maintaining robust asset management practices while collaborating with leading crypto infrastructure providers like Coinbase.

    Efficient Asset Management for Bitcoin ETFs

    By requiring 12-hour processing times for withdrawals, BlackRock ensures that the IBIT ETF can operate efficiently within the Bitcoin market, providing the necessary liquidity and flexibility for its clients. The procedural updates made to the custody agreement reflect a focus on security, speed, and transparency in handling crypto assets. This development comes as cryptocurrency ETFs continue to gain traction, and ensuring secure custody arrangements remains a critical component of their success.

    Despite minor procedural updates, BlackRock’s Head of Digital Assets confirmed that there have been no major changes in the company’s crypto custody arrangement with Coinbase for the IBIT spot Bitcoin ETF. The 12-hour withdrawal requirement is part of BlackRock’s broader efforts to ensure efficient asset management while maintaining high standards in crypto custody.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Wyoming Stable Token Commission Moves FRNT to Chainlink CCIP

chest

The Wyoming Stable Token Commission has announced the migration of the Frontier Stable Token (FRNT) infrastructure from LayerZero to Chainlink CCIP.

user avatarDiego Alvarez

Nethermind Transitions to Chainlink CCIP as Node Operator

chest

Nethermind has transitioned its crosschain node operations to Chainlink CCIP, ending its role in the LayerZero Decentralized Verifier Network.

user avatarKenji Takahashi

NAVI Prime's Curated Lending Markets: A Step Towards Enhanced Risk Management

chest

NAVI Prime introduces curated lending markets to enhance risk management in DeFi by isolating environments and customizing collateral rules.

user avatarMaria Fernandez

NAVI Protocol Launches NAVI Prime: A New Era in Decentralized Lending

chest

NAVI Protocol has launched NAVI Prime, a modular lending framework on the Sui blockchain that replaces shared liquidity pools with independently curated lending markets.

user avatarGustavo Mendoza

HINC Deployment Enhances Sui Network's Institutional Appeal

chest

The deployment of the Neuberger Securitize High Income Tokenized Fund (HINC) on the Sui network enhances its appeal to institutional investors and showcases its potential in the tokenized finance landscape.

user avatarMiguel Rodriguez

Neuberger Securitize Launches High Income Tokenized Fund (HINC)

chest

Securitize and Neuberger Berman have launched the Neuberger Securitize High Income Tokenized Fund, known as HINC, providing accredited investors with tokenized access to high-yield bonds and other credit products.

user avatarRajesh Kumar

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.