Coinbase (COIN) Is Dominating a Key Bitcoin ETF Service. Can Anyone Else Such as BitGo Join the Race?

Coinbase, run by CEO Brian Armstrong, currently is the custodian for five of the 12 proposed bitcoin ETFs in the U.S., a level of concentration that makes some uneasy. Fidelity has decided to custody their own assets, leaving six applications that currently list no custodian.