Coinbase's Extensive Preparations for Bitcoin ETF Approval

• Coinbase Readies for Bitcoin ETF Approval
• Coinbase Announces Preparedness for Spot Bitcoin ETF Approval
• Pressures on the SEC for Bitcoin ETF Approval
• Coinbase: The Preferred Choice for Custodians Post-Approval

Coinbase Readies for Bitcoin ETF Approval

As the crypto exchange giant Coinbase undertakes significant changes in anticipation of Spot Bitcoin$42,260 -0.64% Exchange-Traded Funds (ETFs), the company affirms its extensive preparation for the approval. A spokesperson from Coinbase stated, We have been meticulously prepared for ETF approval, with our systems designed and tested to handle any surge in trading volume, increased liquidity, or any other increases in demand.

Coinbase Announces Preparedness for Spot Bitcoin ETF Approval

Pressures on the SEC for Bitcoin ETF Approval

Historically, the Securities and Exchange Commission (SEC) has repeatedly delayed its decision on Bitcoin ETF approval in the United States, citing numerous concerns. However, with increasing pressure from US courts for the regulator to reach a decision, the excitement within the entire crypto market, specifically around Bitcoin, has seen a significant rise. As a result, the approval of the first Spot Bitcoin ETFs is predicted to happen in January 2024.

Coinbase: The Preferred Choice for Custodians Post-Approval

According to Bloomberg, Coinbase is considered the top choice for custodians among Bitcoin ETF applicants after any approval. In October, Coinbase's Chief Legal Officer, Paul Grewal, expressed his confidence that the SEC would grant the Spot Bitcoin ETF approval. With approval on the horizon, Coinbase aims to be at the forefront for investment firms to manage their newly approved ETFs.

Edited by Jonathan Stoker