Coinbase To Support Valkyrie And Bitwise Bitcoin Spot ETFs:...
2 Jul 2023
Crypto News Source
Coinbase To Support Valkyrie And Bitwise Bitcoin Spot ETFs: Report
According to Bloomberg, Coinbase will also supply services for Valkyrie and Bitwise’s bitcoin spot ETF, according to individuals familiar with the situation. Coinbase’s partnership with the planned ETFs might result in an increase in income at a time when the crypto-exchange sector is experiencing low volumes. Coinbase’s revenue last year was less than half of what it was in 2021, when the sector was booming. The announcement also comes amid Coinbase’s legal fight with the SEC, which accused the company of operating an unlawful exchange.
Coinbase will become the custody-sharing agreement partner of Invesco Galaxy Bitcoin ETF, VanEck Bitcoin Trust, WisdomTree Bitcoin Trust, Fidelity Wise Origin Bitcoin Trust, and ARK 21Shares Bitcoin ETF, according to recent reporting. Fidelity Investments led a flurry of corporations that submitted a second batch of applications for a spot Bitcoin exchange-traded fund on Friday afternoon to add additional information after the US Securities and Exchange Commission suggested that the earlier files were inadequate. The companies are among eight that are attempting to establish the first generation of US spot Bitcoin ETFs. In mid-June, BlackRock Inc. surprised the market by registering for such a fund.
According to Bloomberg, Coinbase will also supply services for Valkyrie and Bitwise’s bitcoin spot ETF, according to individuals familiar with the situation. Coinbase’s partnership with the planned ETFs might result in an increase in income at a time when the crypto-exchange sector is experiencing low volumes. Coinbase’s revenue last year was less than half of what it was in 2021, when the sector was booming. The announcement also comes amid Coinbase’s legal fight with the SEC, which accused the company of operating an unlawful exchange.
Coinbase will become the custody-sharing agreement partner of Invesco Galaxy Bitcoin ETF, VanEck Bitcoin Trust, WisdomTree Bitcoin Trust, Fidelity Wise Origin Bitcoin Trust, and ARK 21Shares Bitcoin ETF, according to recent reporting. Fidelity Investments led a flurry of corporations that submitted a second batch of applications for a spot Bitcoin exchange-traded fund on Friday afternoon to add additional information after the US Securities and Exchange Commission suggested that the earlier files were inadequate. The companies are among eight that are attempting to establish the first generation of US spot Bitcoin ETFs. In mid-June, BlackRock Inc. surprised the market by registering for such a fund.
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