Coinbase, run by CEO Brian Armstrong, currently is the custodian for five of the 12 proposed bitcoin ETFs in the U.S., a level of concentration that makes some uneasy. Fidelity has decided to custody their own assets, leaving six applications that currently list no custodian.
Coinbase (COIN) Is Dominating a Key Bitcoin ETF Service. Can Anyone Else Such as BitGo Join the Race?
