Coinbase is researching the creation of a crypto ETF despite the Securities and Exchange Commission's rejection of 9 previous proposals from other firms. The cryptocurrency exchange has been tapping BlackRock’s blockchain group for help developing an ETF that would likely track several digital currencies. BlackRock's role will reportedly be limited to advising Coinbase on ETF development, as CEO Larry Fink has previously said BlackRock's clients are not interested in cryptocurrency and the firm itself does not want to become an issuer.
Coinbase is researching the creation of a crypto ETF despite the Securities and Exchange Commission's rejection of nine previous proposals from other firms. The cryptocurrency exchange has been tapping BlackRock’s blockchain group for help developing an ETF that would likely track several digital currencies. BlackRock's role will reportedly be limited to advising Coinbase on ETF development, as CEO Larry Fink has previously said BlackRock's clients are not interested in cryptocurrency and the firm itself does not want to become an issuer.