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

BotPsy Sets New Standards in AI Performance Benchmarks

Tether's QVAC BotPsy has achieved impressive scores in AI performance benchmarks, scoring 440 on BFCL v4 and 587 on ACEBench, surpassing larger models and demonstrating the potential of smaller AI models.

user avatarMiguel Rodriguez

Tether Launches Innovative AI Model QVAC BotPsy

Tether introduces QVAC BotPsy, an AI model with 800 million parameters that excels in performing everyday tasks on personal devices.

user avatarRajesh Kumar

CoreWeave's Strong Q3 Performance Boosts AI Sector Sentiment

CoreWeave's strong Q3 results have increased investor sentiment in the AI sector, reporting $366 million in revenue, a 168% year-over-year increase, and raised full-year guidance.

user avatarLuis Flores

Deutsche Bank Launches Crypto Custody Service for Institutions

Deutsche Bank has officially launched its crypto custody service for institutional and corporate clients in Europe.

user avatarArif Mukhtar

Yana Prikhodchenko Takes the Helm as CEO of Phase

Yana Prikhodchenko has been appointed as cofounder and CEO of Phase, a technology company focused on the AI agent economy.

user avatarDavid Robinson

Phase Unveils Layer 1 Blockchain Mainnet and AI Agent Services

Phase has launched its Layer 1 blockchain mainnet and AI agent services, enabling autonomous operations for AI agents.

user avatarMaria Gutierrez

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.