Coinbase Preps for Possible 2024 Bitcoin ETF Launch with New Custody Head and System Upgrades
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Coinbase says it has "extensively prepared" for Bitcoin ETF approval in areas like system capacity, liquidity, and overall demand.
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The company recently replaced its head of custody, Aaron Schnarch, with Rick Schonberg, formerly of Goldman Sachs.
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Coinbase Custody is regulated by the NY Department of Financial Services and audited by Deloitte.
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The SEC has delayed Bitcoin ETF approval decisions but may be forced to decide in January 2024 due to court pressure.
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If approved, Coinbase is the most popular choice for Bitcoin ETF custodians according to Bloomberg.