Crypto Bank Anchorage Digital and Its Impact on the ETF Custody Industry
Thursday, 12 September 2024, 07:35
Overview of Anchorage Digital's ETF Custody Role
Anchorage Digital Bank recently announced its appointment as the custodian for the ARK 21Shares Bitcoin ETF. This is a significant development, as Coinbase has traditionally maintained a stronghold in the ETF custody market.
Implications for Coinbase and the Crypto Market
- Increased competition in Crypto ETF Custody.
- Opportunities for innovation in custody services.
- Potential shifts in user trust towards multi-custodian strategies.
As Anchorage Digital steps into this role, it becomes crucial to monitor how this competition evolves and influences investor confidence in cryptocurrency ETFs.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.