Want a Spot Market Bitcoin ETF? Then Deal With the Consequences

On the former point, Coinbase is not the largest spot bitcoin exchange. It currently sees somewhere around 2.5% of global daily trading volume, according to BTC/USD trading pair data from CoinGecko and CoinMarketCap. You can quibble about the details, bitcoin trading exchange volumes could also include trading pairs between many currencies, crypto or otherwise.

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