• 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

Markets Anticipate Rate Cuts Amidst Hassett's Candidacy

chest

Market analysts report an 87% chance of a Fed rate cut in December, influenced by Kevin Hassett's nomination.

user avatarKenji Takahashi

GeeFi Wallet Launches to Enhance User Control and Security

chest

The GeeFi Wallet is now available, providing a secure and user-friendly platform for managing digital assets across multiple networks.

user avatarBayarjavkhlan Ganbaatar

Potential Impact of US-Venezuela Tensions on Global Markets

chest

The escalating tensions between the US and Venezuela are likely to have a significant impact on global markets, particularly Bitcoin.

user avatarAyman Ben Youssef

Bybit Integrates USDT0 on Mantle Network to Enhance Crosschain Liquidity

chest

Bybit has announced support for USDT0 deposits and withdrawals on the Mantle Network, enhancing crosschain liquidity with zerofee transfers.

user avatarMohamed Farouk

Canton Network Emerges as a Leading Layer One Protocol for Financial Institutions

chest

Canton Network is gaining significant attention as a next-generation layer one protocol focused on serving large-scale financial institutions, emphasizing interoperability and privacy.

user avatarTomas Novak

Colin Talks Crypto Warns Against Overly Bullish Bitcoin Expectations

chest

Analyst Colin Talks Crypto shares his updated assessment of Bitcoin's potential trajectory over the next year, cautioning against overly bullish expectations.

user avatarElias Mukuru

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.