Crypto exchange Coinbase Inc. COIN, which acts as the primary custodian for 10 of the 13 currently available spot Bitcoin BTC/USD exchange-traded funds (ETFs), highlighted Tuesday its robust security measures.
What Happened: Coinbase brings “less exposure to custodial risks” for investors compared to directly owning a cryptocurrency, the firm’s chief security officer Philip Martin said in an interview with CNBC.
Martin explained the extensive vetting process Coinbase underwent with ETF issuers, reflecting a commitment to security since the firm launched in 2012.
Blockchain addresses don’t necessarily prove ownership or off-chain conditions, he added.
Also Read: Will Charles Schwab Eyeing Bitcoin ETF Be A Game-Changer For Retail Investors?
Regarding potential security risks with increased crypto interest due to ETFs, Martin highlighted the extensive due diligence done by ETF issuers.
Why It Matters: ETFs will open doors for previously…
