Coinbase Backs Custody Services for Majority of Approved ETH Spot ETFs

Coinbase Backs Custody Services for Majority of Approved ETH Spot ETFs

Coinbase has announced via its official blog that eight out of the nine Ether (ETH) spot exchange-traded funds (ETFs) approved by the U.S. Securities and Exchange Commission (SEC) will be supported by the crypto exchange for custody services. Among the applicants for ETH spot ETFs that had previously selected Coinbase as their custodian is Grayscale. Upon SEC approval, Coinbase will provide custody services for the following ETH spot ETFs: WisdomTree Enhanced Commodity Strategy Fund (WETC) VanEck Ethereum Trust (ETH) CBOE Vest Ether Strategy Fund (ETHV) Global X Ether ETF (ETH) Solactive Ether Futures Strategy ETF (ETHE) Teucrium Ether Fund (ETHE) First Trust Ether Future Fund (FEET) ProShares EtherStrategy ETF (ETHS) Coinbase's expanding role in the ETF market Coinbase's support for custody services for these ETH spot ETFs highlights the crypto exchange's growing role in the burgeoning ETF market. The company's involvement in the approval process and its ability to provide custody services for such a large number of ETFs further establishes Coinbase as a key player in the digital asset ecosystem. This news is likely to be well-received by investors who are looking for more ways to gain exposure to ETH. ETFs offer a convenient and regulated way to invest in crypto assets, and Coinbase's support for custody services will make it even easier for investors to access these products.