Coinbase is in the view of taking an opportunity to join forces with the biggest asset manager in the world, BlackRock. The motive is to develop a Bitcoin exchange-traded fund (ETF).
Bitcoin, and other cryptocurrencies, is going through not the best time of its lifecycle, as the costs are low and are strongly affected by various external variables. Just today itself, Bitcoin lost right around 7%, while Ethereum lost more than 15%.
This year, experts have been highly promoting the assumption for cryptocurrencies from the side of institutional investors and major banks will incredibly help the industry. Bitcoin has been basically upheld by these thoughts.
Amidst this comes the news of Coinbase joining forces with BlackRock to develop the Bitcoin ETF.
The experts have a belief that a single publicly-traded ETF will become a life-saver deal for the cryptocurrencies. The Bitcoin is said to facilitate the communication with these crypto markets for retail investors.
The Coinbase is in talks with BlackRock’s blockchain-focused division to analyze the company’s strength in launching the exchange-traded investment products.
A lot of people have been guessing about the situation of Bitcoin ETF and how will it be solved. The Trump administration has made the appointment to the SEC. Elad Roisman, a Republican from Maine will now join the watchdog.
Roisman spoke about How the SEC should pay more attention to the issues of cyber security. In a hearing before the Senate banking Committee in July he stated, “the SEC should review its rules, regulations, and, guidelines in accordance with its mission as well as to pay more attention to such issues as data protection and cybersecurity.”
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