Bitcoin ETF Approval Hindered By Coinbase Integration, Says BitGo CEO | Bitcoinist.com

• BitGo CEO Mike Belshe expresses reservations about the approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) due to Coinbase's integration as both an exchange and custodian.
• Belshe believes that the risks associated with Coinbase's multifaceted role have not been fully understood, potentially leading to further rejections before positive news emerges.
• He suggests that the SEC may require a complete separation of Coinbase's functions before approving Bitcoin ETFs.
• Belshe advocates for the use of custodians like BitGo, specializing in custody services without engaging in exchange or trading activities, to address the need for separation between exchanges and custody.

The sentiment of the article is mostly negative, as it highlights concerns and potential rejections of Bitcoin ETF applications due to Coinbase's integration.