Crypto Community Raises Alarm Over Coinbase’s Dominance Of Bitcoin Held In Spot ETFs
Summary
Coinbase is the custodian for the majority of Spot Bitcoin ETFs, raising concerns about centralization and potential risks. Nine out of 11 ETF companies, including BlackRock and Grayscale, use Coinbase as their custodian. This concentration has sparked worries about counterparty risks and increased scrutiny from the SEC. Coinbase's CFO is bullish on the impact of Spot Bitcoin ETFs, seeing them as a game-changer that will broaden Bitcoin's appeal and attract more investors globally.
