Summary
Valkyrie has announced that it has added BitGo as a custodian for its spot bitcoin exchange-traded fund (ETF). The company still plans to retain Coinbase Trust Company as a custodian as well. Many spot bitcoin ETFs that have received approval from the Securities and Exchange Commission (SEC) also have Coinbase as their custodians, including BlackRock, Bitwise, and Ark21. BitGo is the custodian for the Hashdex spot bitcoin ETF, which was approved last month. The addition of BitGo as a custodian is seen as a win for the industry, according to BitGo CEO Mike Belshe. Competition among spot bitcoin ETF issuers is increasing, leading firms to explore ways to boost profitability and lower fees.
Key Points
1. Valkyrie has added BitGo as a custodian for its spot bitcoin exchange-traded fund, according to a regulatory filing posted on Thursday.
2. Valkyrie said it still plans to have Coinbase Trust Company stay on as a custodian as well.
3. Many of the spot bitcoin ETFs that got approval from the Securities and Exchange Commission have Coinbase as their custodians, including BlackRock, Bitwise, and Ark21. The Hashdex spot bitcoin ETF, which was also approved last month, lists BitGo as its custodian.