PANews reported on September 18 that according to CoinDesk, industry experts and Coinbase CEO Brian Armstrong quickly refuted the rumor that Coinbase issued Bitcoin IOUs to BlackRock. Analyst Tyler Durden once accused Coinbase of allowing BlackRock to borrow Bitcoin without collateral for market manipulation, which attracted market attention. In response, Armstrong said that ETFs are settled on the chain in a one-day cycle, and institutional clients can use trade financing and over-the-counter trading tools before the transaction is settled. Durden subsequently deleted the relevant tweets. Experts stressed that the transparency of Bitcoin ETFs needs to be improved, but these rumors are not accepted.