Grayscale moves away from Coinbase for new ETF product – Is Wall Street building a post-Coinbase custody map?

The Bitcoin ETF trade sold investors a simple promise: crypto exposure inside a wrapper that looked and felt like mainstream finance. Advisors could buy it, compliance teams could understand it, and institutions could route capital into digital assets through a product that fits the rest of their strategy. That promise worked, and the US spot Bitcoin ETF complex had reached $91.71 billion in assets under management b…