Coinbase CEO Optimistic for Bitcoin ETF Approval in 2022, Poised to Hold Billions in Custody Fees
• Coinbase CEO is "pretty optimistic" a Bitcoin ETF will be approved in 2022 based on court rulings and SEC meetings • 10 out of 13 Bitcoin ETF applicants have chosen Coinbase Custody to potentially hold billions in Bitcoin • Armstrong believes having lots of Bitcoin with one custodian is not a risk and shows trust in Coinbase • ETF approval would be lucrative for Coinbase through custody fees • Armstrong hopes more crypto custodians will emerge longer-term for more ecosystem diversity