• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
Coinbase

Coinbase is Reportedly Exploring a Bitcoin ETF, Taps BlackRock for Expertise

newsbtc by newsbtc
5 years ago
in Bitcoin, Cryptocurrency Technology, Derivatives
Reading Time: 2 mins read

San Francisco-based cryptocurrency exchange Coinbase is reportedly considering adding a Bitcoin exchange-traded fund (ETF) to its arsenal, and has been in talks with the world’s largest global investment management firm, BlackRock Inc.

Coinbase Aims to Launch a Crypto Exchange-Traded Fund

Bitcoin ETFs are a hot button issue at the moment throughout the cryptocurrency community.

All eyes are on the U.S. Securities and Exchange Commission (SEC), waiting to see if the chief U.S. securities regulator will approve or deny Bitcoin ETF proposals from a handful of investment firms. Coinbase seemingly doesn’t want to miss out on the buzz, or let their competitors get an edge, and are reportedly ready to explore a Bitcoin ETF of their own.

Coinbase currently offers a variety of products and services to both retail and institutional investors, including a cryptocurrency trading platform, an ERC-20 token wallet, and most recently, a custody product for institutional investor assets. Next on Coinbase’s list, is a crypto-based ETF, according to a sources cited by Business Insider.

Coinbase Seeks BlackRock’s Industry Expertise

According to the report, Coinbase held a number of conversations with executives from BlackRock’s blockchain division, hoping to gain valuable industry insight and expertise from a firm that’s deeply engrained in the ETF space, offering a number of ETFs through its iShares subsidiary.

Business Insider’s source claims that BlackRock didn’t give Coinbase any “concrete recommendations” and it is unclear if the two firms will together pursue a cryptocurrency ETF.

BlackRock has been exploring blockchain since 2015, seeking ways to implement the emerging technology across its financial services and products.

The cryptocurrency market, however, isn’t a space that BlackRock is interested in pursuing according to recent comments by BlackRock chairman and CEO Larry Fink. He told Erik Schatzker on Bloomberg Surveillance that BlackRock clients aren’t looking to buy cryptocurrencies. Fink later called Bitcoin an “index of money laundering.”

Another Contender Enters the Bitcoin ETF Arena

Coinbase would join Winklevoss-owned, U.S.-based cryptocurrency exchange rival Gemini and others in trying to get a Bitcoin ETF approved by the SEC.

Last month, the SEC rejected a Bitcoin ETF proposed by the Winklevoss twins, Cameron and Tyler Winklevoss. The SEC has also initially rejected a number of Bitcoin ETF proposals made by ProShares, GraniteShares, and Direxion, but later announced that it would be reviewing the disapproval orders.

The fate of yet another Bitcoin-related ETF from VanEck and SolidX is expected to be decided on or before September 30. The SEC was initially supposed to approve or deny the proposal in early August, but the decision deadline was delayed until the end of September.

Uncertainty around these Bitcoin ETF proposals has created a lot of volatility in the cryptocurrency market. Bitcoin recently peaked at a local high of $7,400, only to drop to $6,400 nearly 24 hours later. If a Bitcoin ETF is indeed approved, many experts are expecting a “nice rally.”

Featured image from Shutterstock.
Tags: bitcoinBlackRockcoinbaseetf
Tweet123Share196ShareSend
newsbtc

newsbtc

Related Posts

Bitcoin (BTC)

Traders Act Fast As Binance Australia Unveils Bitcoin Discount For Limited Period

5 days ago
Bitcoin (BTC)

No All-Time High For Bitcoin In 2023, Former BitMEX Head Arthur Hayes Predicts

6 days ago
Bitcoin

Bitcoin Shows Recovery: Did This Historical Line Act As Support Again?

6 days ago
Bitcoin Core

Bitcoin Core 25.0 Hits The Market: A Sneak Peek Into The Future

6 days ago
Bitcoin (BTC)

JPMorgan Predicts Bitcoin (BTC) To Revisit $45,000, Here’s Why

1 week ago
Bitcoin

Bitcoin Exchange Inflows Mostly Coming From Loss Holders, Weak Hands Exiting?

1 week ago

Premium Partners

Play Finance

Now Trending

  • Potential 20x+ Crypto Presales 2023

    4 days ago
  • Willing to buy new crypto: Here are the best 10...

    4 days ago
  • Best Crypto Meme Coin Presales in 2023

    4 days ago

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

  • According to experienced traders, Aave (AAVE) and InQubeta...

    1 hour ago
  • Avalanche price at important support level, Quant price to...

    3 hours ago
  • Looking for the next Crypto That Could 100x? Check...

    3 hours ago
  • Tradecurve (TCRV) Presale Bonus Attracts More Investors As...

    3 hours ago
  • XRP and Big Eyes Coin (BIG): Riding the FOMO Wave in the...

    4 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Claim 7 BTC

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.