Bryan Armstrong, CEO of Coinbase, announced that the company is the custodian for approximately 90% of US spot Bitcoin ETF assets, making it the most high-risk ETF category in the market according to Tuur Demeester. He suggests that these ETFs could face the possibility of being wiped out within the next 5 to 10 years. Additionally, Coinbase's role extends beyond Bitcoin ETFs, as it involves custodian fees for BTC ETF, BlackRock tokenized Tbill, ETH ETF, and fees on staked ETH yield, which are expected to be infinitely higher. Coinbase Prime, recognized as the world's biggest custodian, has also enabled custody for $AKT, further solidifying its position in the cryptocurrency market.
Custody is a critical requirement for institutions to hold AKT, and we're excited that Coinbase Prime has enabled custody for $AKT. Coinbase Prime holds the title of the world's biggest custodian and is responsible for safeguarding 90% of the Bitcoin that's included in ETFs,… https://t.co/EbtMhlKzRB
$COIN - BTC ETF custodian fees - BlackRock tokenized tbill custodian fees - ETH ETF custodian fees - Fees on Staked ETH yield - More ETH Staked with Coinbase once the ETH ETF becomes staked ETH ETF - Normal exchange trading fees from return of retail Infinitely higher
NEW: According to @TuurDemeester, the significant concentration of #Bitcoin ETFs custodied by Coinbase makes them the most high-risk ETF category in the market. He contends that there is a real possibility of these ETFs being completely wiped out within the next 5 to 10 years. https://t.co/JOAlTbUp23
Coinbase currently holds 90% of all the assets in U.S. Spot #bitcoin ETFs https://t.co/FYLcQVcDh1
📌Brian Armstrong, CEO of Coinbase, Asserts Custody of 90% of US Bitcoin ETF Funds https://t.co/Lnl9OUBiYc
🚨 CEO of Coinbase Bryan Armstrong says they're the custodian for ~90% of US spot #Bitcoin ETF assets https://t.co/6fWiJnUDgJ