• 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

2 years 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

Spike in Bitcoin Whale Transactions Amid Price Crash

chest

Surge in Bitcoin whale transactions coinciding with a significant price drop.

user avatarTando Nkube

Toncoin's Native Token Rebranded to Gram

chest

Toncoin's native token has officially been rebranded to Gram, marking a significant step in Pavel Durov's Make TON Great Again initiative.

user avatarKofi Adjeman

Long-term Parallel Channel Analysis for XRP

chest

In a recent post, analyst Ali Martinez discussed a long-term Parallel Channel that XRP has possibly been trading within for years. He noted that if XRP continues to respect this channel, the midrange near 073 could become an attractive accumulation zone for investors.

user avatarNguyen Van Long

Strategy Sells 32 Bitcoin to Meet Dividend Obligations

chest

Strategy, led by Michael Saylor, sold 32 Bitcoin worth approximately $25 million, marking its first sale since 2022.

user avatarSatoshi Nakamura

IRS Refund Timelines Extended to June 2026 for Millions of Taxpayers

chest

Tax refund timelines are extended to June 2026 for millions of American taxpayers due to processing backlogs and verification checks.

user avatarJesper Sørensen

Elliott Waves Analysis Suggests Recovery for Solana

chest

Elliott Waves Academy identifies a potential ending diagonal pattern for Solana, suggesting a nearing conclusion of its downward trend.

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.