The latest update in the Bitcoin ETF market saw raging speculations about the crypto exchange giant, Coinbase’s upcoming initiative to support Bitcoin ETF trading on its platform. According to Eric Balchunas’ tweet, Coinbase is set to launch $BITO trading, however, it may as well be a big mistake, given the high trading fees of 1.49 percent on the platform. The ETF analyst warned Coinbase of potential consequences upon starting $BITO trading.
This is why I say ETFs are going to rock crypto world. Crypto intermediaries used to fat fees. ETFs live in relative poverty. $BITO (not to mention the spot ETFs a comin’) are 1bp to trade ANYWHERE. Coinbase should be afraid of that.
— Eric Balchunas (@EricBalchunas) November 9, 2021
Bitcoin ETF Frenzy
Futures-linked Bitcoin ETFs have taken over the US crypto market, launching a swift bull for the OG crypto, with further speculations of Spot BTC ETF in the process to directly track the underlying asset class, from institutional players alo