Coinbase has partnered with BlackRock to create an alternative to BTC-ETF

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Coinbase is known for its wide-ranging business model, covering asset management, venture capital, trading, storage and brokerage activities. According to people familiar with this issue, is now available to create exchange traded product tied to bitcoin to allow retail investors to access unstable cryptosystem.

Coinbase in recent weeks held discussions with people from the working group of BlackRock, to use the firm’s experience with the launch of exchange-traded products, according to different sources. BlackRock, the pioneer of ETFs, is well known for its iShares unit.

It remains unclear whether the negotiations are one-off or part of ongoing negotiations between Coinbase and BlackRock. BlackRock representatives of the working group was not given any specific recommendations to the crypto currency exchange, reported by the source publication Busines Insider.

Of course, BlackRock have confirmed that they are not interested in being the Issuer of cryptofauna. And CEO Larry Fink said the firm’s clients have expressed zero interest in digital currency with a total market capitalization of $ 300 billion, describing bitcoin as a “means of laundering money.”

If Coinbase wanted to push through the idea of a crypto-ETF, it would join several other companies going in the same direction, for example: Gemini, VenEck Bitwise and Asset Management.

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