BlackRock, the world’s largest asset manager, is preparing to apply for and use Coinbase’s infrastructure for a Bitcoin ETF.
Today, partnerships and agreements in the cryptocurrency industry are incessant. After Ripple and Coinbase news feeds, another news came from BlackRock. BlackRock is preparing to apply for the Bitcoin ETF. BlackRock will use Coinbase’s Custody infrastructure for the ETF, according to CoinDesk’s news, citing its well-informed sources.
BlackRock to Use Coinbase Custody for Bitcoin ETF
According to a report by CoinDesk, the world’s largest asset manager BlackRock is preparing for a Bitcoin ETF.
BlackRock may prefer Coinbase Custody for a Bitcoin ETF. The asset manager will use Custody for pricing and data from the crypto exchange.
A similar move came from BlackRock in the middle of last year. The asset manager had formed a partnership with Coinbase to introduce crypto to institutional investors. Reinforcing this partnership, BlackRock opted for the infrastructure for its Bitcoin ETF, favoring the popular crypto exchange. However, Coinbase attracted attention by being sued by the SEC. Surprised that BlackRock preferred the litigation stock market.
Even if an application is made for an ETF, it is unknown whether it will be accepted immediately and whether this ETF is spot or futures.
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