$Coinbase (COIN.US)$ Crypto exchange Coinbase says that it h...

Ghorghor commented on a stock · Jan 3, 2024 00:33

$Coinbase (COIN.US)$ Crypto exchange Coinbase says that it has “extensively prepared” for spot bitcoin exchange-traded fund (ETF) approvals by the U.S. Securiti...

Crypto exchange Coinbase says that it has “extensively prepared” for spot bitcoin exchange-traded fund (ETF) approvals by the U.S. Securities and Exchange Commission (SEC). Most spot bitcoin ETF applicants have named the Nasdaq-listed crypto platform as the custodian for their bitcoin.
Coinbase Gets Ready for Spot Bitcoin ETF Launches
As the deadline approaches for the U.S. Securities and Exchange Commission (SEC) to decide whether to approve a spot bitcoin exchange-traded fund (ETF), Coinbase (Nasdaq: COIN) says it has extensively prepared its systems to custody BTC for spot bitcoin ETF issuers.
Most spot bitcoin ETF applicants have named the Nasdaq-listed crypto platform as the custodian of their bitcoin, including Blackrock, the world’s largest asset manager, Ark Invest, Bitwise, Wisdomtree, and Invesco. A Coinbase spokesperson told Bloomberg Friday:
We have extensively prepared for ETF approval … Our systems have been designed and tested to handle added trading volume, increased liquidity and general increases in demand on our systems.
The spokesperson also confirmed that Coinbase Global Inc.’s head of custody, Aaron Schnarch, recently departed the firm and has been replaced by Rick Schonberg.

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