BlackRock Revises Bitcoin ETF Due to Concerns About Coinbase Methods

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  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.

Tier I

Sector: #18291

Sealed Hiding Place 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, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Shield Launches Confidential Onchain Trading Pair for ZEC

Shield has launched the first confidential onchain trading pair for ZEC, enhancing privacy for traders.

user avatarMaya Lundqvist

C2FO and Ripple Introduce Instant Pay Initiative to Enhance Supplier Payments

C2FO and Ripple have launched the Instant Pay initiative to enhance supplier payments using the XRP Ledger and RLUSD.

user avatarLeo van der Veen

Moody's Ratings Assigns A2 and P1 Ratings to Ripple's RLUSD Stablecoin

Moody's Ratings has assigned an A2 long-term deposit rating and a P1 short-term deposit rating to Ripple's dollar-backed stablecoin RLUSD, issued by Standard Custody Trust Company.

user avatarLi Weicheng

Arthur Hayes Takes Profits and Reduces Market Exposure

Arthur Hayes, cofounder of BitMEX, has closed his directional trading book and taken profits on several tokens due to uncertainty in macroeconomic and geopolitical conditions.

user avatarElias Mukuru

Ethereum Faces Liquidations Amid Bitcoin's Price Volatility

Ethereum positions saw significant liquidations alongside Bitcoin's price drop, with approximately $13.672 million liquidated during the same four-hour period.

user avatarBayarjavkhlan Ganbaatar

Stablecoins Highlighted as Key to US Dollar Strategy

Stablecoins highlighted as crucial to US dollar strategy, emphasizing their connection to government debt and the evolving regulatory landscape.

user avatarAisha Farooq

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.