American cryptocurrency exchange Coinbase is considering the possibility of establishing its own exchange-traded Fund (ETF) with the support of the international investment company BlackRock with wall street. Reported by Business Insider, citing informed sources.
BlackRock — the largest investment company in terms of capital under management: at present, it possesses assets worth $6 trillion. According to the publication, representatives of the working group of the company on blockchain held talks with Coinbase to discuss the possibility of creating a joint ETF. But it is not clear, did you raise this question once or this meeting is part of a series of negotiations between Coinbase and BlackRock.
In August, the exchange said that it will reduce the annual fee for management services of its cryptocurrency index Fund from 2% to 1% for all existing and new investors. The company does this with the goal of bringing to the market another group of investors — institutional. Recall that the index Fund gives investors the opportunity to purchase packages of securities (in this case cryptocurrency) included in any indexes. At Coinbase at the time of launch of the Fund, the package contained only four major digital currency — Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). Later to the list of added Ethereum Classic (ETC). In July, Coinbase said it will add five more cryptocurrencies.
Bitcoin ETF is one of the most hotly debated topics in cryptosuite. In August, the Commission on securities and exchange Commission (SEC) rejected nine applications for the registration of funds from three different applicants. In addition, the Commission has twice refused to register the twins ETF the Winklevoss (Winklevoss) and VanEck with a partner. A little later, the SEC agreed to review decisions on nine of the aforementioned applications. The fate of the Fund from VanEck will be known in late September.
