Bitcoin Cloud Mining Platform04

Bitcoin Cloud Mining Platform04

BlackRock, the asset management company with a staggering $9 trillion under its control, is said to be on the verge of applying to a bitcoin exchange-traded fund (ETF).

Insider sources have revealed that progress is being made in preparing the application.

Working alongside a trusted custodian

According to reports, the New York City-based investment giant is planning to partner with Coinbase Custody, a leading cryptocurrency storage and management platform. 

This collaboration is expected to provide the necessary infrastructure and security for the potential bitcoin ETF. Moreover, BlackRock intends to leverage Coinbase Custody’s technology to ensure the integrity of the digital assets held within the ETF.

Furthermore, to ensure accurate and reliable pricing for the ETF, BlackRock plans to incorporate data from Coinbase’s spot market. 

The SEC’s stance on ETFs

The U.S. Securities and Exchange Commission (SEC) has consistently withheld its approval for a spot bitcoin exchange-traded fund (ETF), primarily due to apprehensions surrounding fraudulent activities and market manipulation. This ongoing skepticism has resulted in a series of rejections over the years.

The SEC’s reservations regarding Bitcoin ETFs date back to July 2016, when it did not approve a proposal put forth by Cameron and Tyler Winklevoss. The proposal sought to list and trade shares of the Winklevoss Bitcoin Trust.

However, the regulatory agency expressed concerns about the lack of robust investor protections and the potential for price manipulation in the nascent cryptocurrency market. Since then several other firms have also filed, or revived previous applications, including ARK Investment and 21Shares in late April.

Since then, the SEC has remained cautious and hesitant to approve any spot bitcoin ETF applications.

The agency has consistently highlighted the need for comprehensive safeguards against fraud and manipulation before considering such proposals. This has only been amplified due to the SEC’s ongoing lawsuit against Binance and Coinbase, in which securities classification has spurred an ongoing crypto crackdown.

Follow Us on Google News

4 comments on “BlackRock nears bitcoin ETF filing, partnering with Coinbase custody

  1. Hello there, I found your website by the use of Google even as looking for a related topic, your web site came up, it seems to be great.

    I have bookmarked it in my google bookmarks.
    Hi there, simply was aware of your blog thru Google, and found that it is really informative.
    I’m gonna watch out for brussels. I will appreciate in case you proceed this
    in future. A lot of other folks will probably be benefited out of your writing.

  2. I visited multiple mining pool scam recovery web pages but the quality of servoce and smart contract expertise posssed by the triangulation team at claimpayback is second to none and the time frame existing at this site is in fact fabulous.

    my blog post 먹튀검증

  3. We are a group of volunteers and opening a new scheme in our community.
    Your web site offered us with valuable information to work on after we were coined to join a mining pool scam and we lost over 45.8 btc. You’ve done an impressive job and our whole community will be grateful to you for the class action your firm took against coinbase. we have just been able to detach the first part of the recovered 39.6 btc now waiting for the ethereum gas fee to come through so we can detach the rest from the outsourced leveraged wallet

    my webpage – 온라인슬롯

  4. Hi to all, how is all, I think every one is getting more from this site, and your views
    are nice designed for new people.

    Look at the mining pool help link for those that have lost their pooled funds through dapps and coinbase; 슬롯사이트

Leave a Reply

Your email address will not be published. Required fields are marked *