Bitcoin, as well as other major cryptocurrencies, could be in line for a boost after reports bitcoin wallet provider and cryptocurrency exchange Coinbase is weighing whether to develop a bitcoin exchange-traded fund (ETF) in partnership with the world’s biggest asset manager, BlackRock.
The price of bitcoin and other cryptocurrencies took a dive this week after it was reported U.S. investment bank Goldman Sachs is shelving plans to set up a cryptocurrency trading desk — casting doubts over how much interest there is in bitcoin and cryptocurrency from Wall Street and institutional money.
Bitcoin’s price has been supported this year by the assumption that big banks and money managers were about to pile into cryptocurrency, though most firm’s plans — first hatched in the midst of bitcoin’s bull run last year — are still at an early stage.
Source/More: Bitcoin Could Be Boosted By A New Exciting Potential ETF
