Index Investing News
Thursday, May 22, 2025
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Coinbase Custody Head Departs As Crypto Giant Prepares For Bitcoin ETF Services

by Index Investing News
December 30, 2023
in Cryptocurrency
Reading Time: 3 mins read
A A
0
Home Cryptocurrency
Share on FacebookShare on Twitter


According to Bloomberg, Coinbase Global has recently experienced a change in leadership within its custody division. The departure of Aaron Schnarch, former CEO of Coinbase Custody, has been confirmed by a spokesperson, who also revealed that Schnarch was replaced by Rick Schonberg in August.

Per the report, the transition aligns with Coinbase’s efforts to offer services to applicants of spot Bitcoin (BTC) exchange-traded funds (ETFs).

Coinbase Affirms Readiness For Bitcoin ETF Approval

Rick Schonberg, who joined Coinbase in 2021, aims to provide experience to his new role, having previously worked at reputable financial institutions such as Goldman Sachs, State Street, and Tagomi, according to Bloomberg. 

Coinbase on the other hand, has emerged as the preferred choice for custodial services among Bitcoin ETF applicants, including industry giants like BlackRock, Franklin Templeton, and Grayscale Investments.

Custody services play a crucial role for potential managers of spot Bitcoin ETFs, as investors rely on these providers to securely safeguard their digital tokens.

Notably, a Coinbase spokesperson emphasized the company’s preparedness for ETF approval, stating to Bloomberg: 

We have extensively prepared for ETF approval. Our systems have been designed and tested to handle added trading volume, increased liquidity, and general increases in demand on our systems.

Coinbase Custody, operating as a trust company, falls under the regulatory oversight of the New York Department of Financial Services and undergoes auditing by Deloitte & Touche.

Countdown To Historic Decision

The race to obtain regulatory approval for the first ETF directly investing in the largest cryptocurrency, Bitcoin, is entering a critical phase. 

The US Securities and Exchange Commission (SEC) faces a deadline of January 10 to decide whether to approve a spot Bitcoin ETF application submitted by ARK Investment Management, led by Cathie Wood, and 21Shares, along with potentially other similar filings.

Overall, the departure of Aaron Schnarch and the subsequent appointment of Rick Schonberg within Coinbase Custody highlight the company’s strategy to the growing demand for custodial services from Bitcoin ETF applicants. 

With the potential approval of spot Bitcoin ETFs on the horizon, the industry eagerly awaits the SEC’s decision, which will have far-reaching implications for the adoption and mainstream acceptance of cryptocurrencies.

The 1-day chart shows BTC’s sideways price action over the past 24 hours. Source: BTCUSDT on TradingView.com

Bitcoin, the largest cryptocurrency in the market, is currently trading at $42,100, representing a 1.1% decline over the past 24 hours. 

In recent weeks, BTC’s price has been consolidating above $40,000, exhibiting sideways movement since the beginning of December. However, it has achieved a notable gain of over 11% in the last 30 days.

It remains to be seen how the price of BTC will react to the potential approval of these index funds by the largest asset managers in the world, and what other impact it will have on the overall crypto market.

Featured image from Shutterstock, chart from TradingView.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.



Source link

Tags: bitcoinCoinbaseCryptoCustodyDepartsETFGiantpreparesServices
ShareTweetShareShare
Previous Post

Amid Bitcoin ETF Race, BlackRock, Fidelity, Invesco Dot Their Bureaucratic I’s as Likely SEC Action Looms

Next Post

Devin Booker gives sneak peek of unreleased Nike Book 1 colorway during practice ahead of game vs Hornets

Related Posts

World Basis secures 5M through token gross sales to increase biometric Orb-verified IDs globally

World Basis secures $135M through token gross sales to increase biometric Orb-verified IDs globally

by Index Investing News
May 22, 2025
0

World Belongings, a subsidiary of World Basis (previously Worldcoin), has raised $135 million by means of a strategic sale of...

Dogecoin Bollinger Squeeze Alerts ‘Big Transfer’, Analyst Warns

Dogecoin Bollinger Squeeze Alerts ‘Big Transfer’, Analyst Warns

by Index Investing News
May 21, 2025
0

Purpose to belief Strict editorial coverage that focuses on accuracy, relevance, and impartiality Created by trade specialists and meticulously reviewed...

Crypto.com Alternate Acquires CySEC-regulated Dealer, Plans to Supply CFDs in Q3 2025

Crypto.com Alternate Acquires CySEC-regulated Dealer, Plans to Supply CFDs in Q3 2025

by Index Investing News
May 21, 2025
0

Cryptocurrency trade Crypto.com has obtained a Markets in Monetary Devices Directive (MiFID) license by means of its acquisition of Cyprus-based...

Theta Capital Administration Raises Over 5 Million for Fund-of-Funds Focusing on Early-Stage Crypto Startups

Theta Capital Administration Raises Over $175 Million for Fund-of-Funds Focusing on Early-Stage Crypto Startups

by Index Investing News
May 21, 2025
0

Crypto funding agency Theta Capital Administration has efficiently closed a elevate of over $175 million for its fund-of-funds, Theta Blockchain...

Is RENDER RNDR One of many Most Underrated AI Altcoins of the 2025 Crypto Bull Run? | by Dominalt | The Capital | Might, 2025

Is RENDER RNDR One of many Most Underrated AI Altcoins of the 2025 Crypto Bull Run? | by Dominalt | The Capital | Might, 2025

by Index Investing News
May 21, 2025
0

ARTIFICIAL INTELLIGENCERender as a venture, and extra particularly its RNDR token, is up practically 12,000% from its all-time low and...

Next Post
Devin Booker gives sneak peek of unreleased Nike Book 1 colorway during practice ahead of game vs Hornets

Devin Booker gives sneak peek of unreleased Nike Book 1 colorway during practice ahead of game vs Hornets

The stock market hasn’t seen a winning streak like this since 1985

The stock market hasn't seen a winning streak like this since 1985

Leave a Reply Cancel reply

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

RECOMMENDED

David F. Sandberg’s Till Daybreak film has wrapped filming

David F. Sandberg’s Till Daybreak film has wrapped filming

October 7, 2024
Ukraine captures extra Russian gear, however civilian deaths continue to grow

Ukraine captures extra Russian gear, however civilian deaths continue to grow

March 11, 2022
The ‘Multiple four-touchdown games’ quiz

The ‘Multiple four-touchdown games’ quiz

September 27, 2023
Wolves: The place is Helder Costa now?

Wolves: The place is Helder Costa now?

April 4, 2022
Wild place Joel Eriksson Ek on IR

Wild place Joel Eriksson Ek on IR

February 26, 2025
How is the conflict in Ukraine creating a world meals emergency? | TV Exhibits

How is the conflict in Ukraine creating a world meals emergency? | TV Exhibits

April 13, 2022
Accommodating EVs Has a Long Way to Go

Accommodating EVs Has a Long Way to Go

June 7, 2023
Can Communities Survive the Fires?

Can Communities Survive the Fires?

January 17, 2025
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In