Coinbase Poised to Profit from SEC Approval of Spot ETH ETF, Says JMP Securities
CryptoNewsTerminal Staff22 May, 2024
Coinbase Poised to Profit from SEC Approval of Spot ETH ETF, Says JMP Securities
Coinbase, a cryptocurrency exchange, stands to gain if a spot Ether exchange-traded fund (ETF) gets the green light from the U.S. Securities and Exchange Commission (SEC), according to a JMP Securities report cited by CNBC. "Coinbase is in a position to provide custody and other associated services for an ETH spot ETF, similar to what they currently do for the Bitcoin spot ETF," JMP Securities stated in the report. As the SEC evaluates spot ETFs, Coinbase's experience in the Bitcoin spot ETF market could give it an advantage in the Ether market as well. With its strong infrastructure and regulatory compliance, Coinbase is well-positioned to support an Ether spot ETF if approved.
