Summary
Valkyrie, a digital asset investment firm, has become the first spot Bitcoin Exchange-Traded Fund (ETF) to diversify the custody of its coins. The firm has partnered with custodian providers BitGo and Coinbase to safeguard their funds, enhancing security and reliability. By engaging multiple custody providers, Valkyrie aims to strengthen the security infrastructure of its ETF and protect its investors’ assets. This move sets a precedent for other Bitcoin ETF issuers seeking to enhance the protection of their customers’ funds.
Key Points
1. Valkyrie, the first spot Bitcoin Exchange-Traded Fund (ETF), is diversifying the custody of its coins to enhance security and reliability.
2. Valkyrie is now working with leading custodian provider BitGo, in addition to Coinbase, to safeguard their funds.
3. By diversifying custody providers, Valkyrie sets a precedent for other Bitcoin ETF issuers seeking to protect their customers’ funds and reinforces the security of its ETF assets.