Coinbase 'Ready to Hit the Ground Running' on Bitcoin ETF Approval, Says COO
Cryptocurrency exchange Coinbase is prepared to move quickly if a spot Bitcoin ETF is approved soon, Coinbase COO Emilie Choi said during an earnings call Thursday with investors and analysts. “We are ready to hit the ground running,” Choi said. “They should add credibility to the market, and we should see increased liquidity and market stability, as we've seen with other asset classes, such as a gold ETF.” The Securities and Exchange Commission (SEC) has hesitated to approve one thus far.
Crypto moguls, such as the Winklevoss twins, have pursued ETF-like products that let investors gain Bitcoin exposure in a brokerage account for more than a decade. The Securities and Exchange Commission (SEC) has hesitated to approve one thus far. However, the hype has hit new levels this year, in light of Grayscale’s courtroom victory and several financial giants, such as BlackRock and Fidelity, that have thrown their weight into the mix of ETF hopefuls. JP Morgan analysts think it’s “most likely” that a spot Bitcoin ETF is approved within the next three months. As a spot Bitcoin ETF makes it easier for institutional investors to trade Bitcoin—without needing to worry about self-custody.
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