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Kraken Mulls Crypto ETF Custody Amid Spot Ethereum ETF Anticipation
![Kraken Mulls Crypto ETF Custody Amid Spot Ethereum ETF Anticipation](https://dailybusinessinvestor.com/wp-content/uploads/2024/02/1707149952-1701107567-1700513207-1699344996-1698431722-bitcoin-media-library-ori___media_library_original_1280_853-3-GMoSBg-800x533-2.jpg)
Kraken, a multinational cryptocurrency exchange, is reportedly considering offering custody services for a potential crypto ETF (Exchange-Traded Fund), amid anticipation over a spot Ethereum ETF.
Custody services involve maintaining and securing cryptocurrencies for institutions or individuals, a key role for the operation of an ETF.
The speculation over a spot Ethereum ETF has risen amid the rapid growth of Ethereum, the second largest cryptocurrency by market cap. A spot ETF would mean that the fund directly holds the actual cryptocurrency (Ethereum in this