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BlackRock has made significant updates to its iShares Bitcoin Trust ETF by amending its custody agreement with Coinbase. According to a recent SEC filing, the changes aim to streamline withdrawal processes and improve asset management during unsettled trades. These updates reduce Coinbase Custody’s withdrawal processing time to just 12 hours, ensuring faster access for institutional investors.
The amendment permits the Trust to withdraw bitcoin from either the Vault or Trading Balance, enhancing liquidity and flexibility. This move demonstrates BlackRock’s commitment to providing efficient and secure asset management, addressing concerns about timely access to digital assets.
Amid rumors that Coinbase was manipulating Bitcoin’s price, both BlackRock and Coinbase have dismissed such claims, emphasizing transparency and regulatory compliance. This update not only strengthens trust but also showcases BlackRock’s dedication to offering a robust and reliable Bitcoin ETF solution, catering to the growing demands of institutional crypto investors.
