Coinbase Becomes Custodian for WisdomTree's Bitcoin ETF, Aiming for SEC Approval
Crypto exchange Coinbase (COIN) will be the official custodian for WisdomTree’s spot Bitcoin ETF, according to the asset manager’s recently amended S-1...
- Coinbase will be the official custodian for WisdomTree's spot Bitcoin ETF, according to an amended S-1 filing.
- Coinbase is responsible for safekeeping the Bitcoin owned by the Trust and will sell Bitcoin at the sponsor's request for fees or expenses.
- Coinbase is the only publicly traded cryptocurrency exchange and is subject to public audits by Deloitte.
- The SEC sued Coinbase in June, but the agency agrees that Bitcoin does not qualify as a security.
- The SEC's next deadline to approve or deny the WisdomTree Bitcoin Trust is January 15.
The sentiment of the article is generally positive, highlighting Coinbase's role as a custodian for WisdomTree's Bitcoin ETF and its legitimacy in the crypto world.