Coinbase will provide Custodial Services to Ethereum-ETF Issuers

Brian Armstrong, director of the trading platform, said that Coinbase is listed as the custodian of assets in five of the eight applications for the issuance of Ethereum-based spot exchange-traded investment funds filed with the U.S. Securities and Exchange Commission (SEC).

I will tell all those who are afraid of cannibalization [in this case, a reduction in the volume of trading in cryptocurrencies due to the creation of ETFs] that the release of ETFs has had a positive impact on the industry and thus turned out to be beneficial for Coinbase. We record capital inflows from private and institutional clients.

Bce organizations are starting to store cryptocurrencies, this asset class will become part of every diversified investment portfolio. The financial system officially accepts virtual currencies," Armstrong said.

Nevertheless, users of the Polymarket betting platform doubt that the creation of an Ethereum ETF will be agreed upon in the foreseeable future. The probability that the SEC will approve the issue of these derivatives before May 1st is estimated at only 39%.

The skepticism of gambling members of the crypto community is due to the weak bullish trend in the Ethereum market. One of the Polymarket users drew an analogy with bitcoin and reasonably suggested that the poc coin rate would be much faster if the rich people knew about the imminent approval of the ETF.

Source: https://happycoin.club/coinbase-budet-okazyvat-kastodialnye-uslugi-emitentam-ethereum-etf/