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

BlackRock Revises Bitcoin ETF Due to Concerns About Coinbase Methods

user avatar

by Giorgi Kostiuk

a year ago

  1. Investor Concerns
  2. Updates from BlackRock
  3. Coinbase's Role in the Market


    4. BlackRock, the global asset management firm, has submitted an update for its Bitcoin ETF (IBIT) in response to apprehensions regarding Coinbase's custodial methods.

    Investor Concerns

    Investors have expressed concerns regarding the transparency of Coinbase's management of Bitcoin, leading to requests for on-chain verification that all ETF-related transactions are accurately resolved.

    Updates from BlackRock

    BlackRock demanded that Bitcoin withdrawals from Coinbase be executed within 12 hours, citing apprehensions around the utilization of "paper BTC" or Bitcoin IOUs. Coinbase CEO Brian Armstrong informed investors that all ETF-related transactions are executed on-chain within one business day. BlackRock's plan to amend its ETF framework seeks to improve liquidity and increase operational transparency.

    Coinbase's Role in the Market

    Notwithstanding substantial inflows into Bitcoin ETFs, Bitcoin's price has stayed unchanged, prompting speculation that Coinbase may be conducting ETF-related Bitcoin transactions off-chain, so influencing the price. Nonetheless, Armstrong and other industry leaders have emphasized that all transactions are conducted transparently on-chain. Coinbase continues to be a significant participant in institutional Bitcoin investing, commanding a considerable share of the US spot trading market.

    Despite concerns regarding Coinbase's methods, the company remains a key player in institutional Bitcoin investing.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Bhutan's Bitcoin Initiative Promotes Green Energy Use

chest

Bhutan has been mining Bitcoin since 2019 using green energy, promoting sustainability and influencing global discussions on eco-friendly cryptocurrency practices.

user avatarLeo van der Veen

Bhutan Allocates 10,000 BTC for Gelephu Mindfulness City

chest

King Jigme Khesar Namgyel Wangchuck announces the allocation of 10,000 Bitcoin to fund the Gelephu Mindfulness City project, reflecting Bhutan's commitment to economic growth and youth development.

user avatarKaterina Papadopoulou

Cat in a Dogs World MEW and Dogwifhat WIF Experience Market Fluctuations

chest

Both Cat in a Dogs World MEW and Dogwifhat WIF have seen slight declines in their market prices amid broader market activity.

user avatarMaya Lundqvist

Lucie Introduces SOU Recovery Framework for Shiba Inu

chest

Lucie, a key Shiba Inu executive, has detailed the SOU recovery framework aimed at compensating users affected by the Shibarium exploit.

user avatarLi Weicheng

Bitcoin Breaks Critical Psychological Level with 95,000 Milestone

chest

Bitcoin's breakthrough above 95,000 marks a significant technical and psychological victory for the cryptocurrency.

user avatarAisha Farooq

Market Instability Looms with Possible Iran Action

chest

Concerns about market instability due to potential military action against Iran, with limited direct impacts on cryptocurrency.

user avatarTenzin Dorje

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.