By Susie Violet Ward · Forbes · 5 February 2024
An SEC filing dated 1 February 2024 showed that Valkyrie had added BitGo as a custodian for its spot bitcoin ETF, alongside its existing arrangement with Coinbase. Under a custodial services agreement signed on 17 January 2024, BitGo, a South Dakota trust company, was to take responsibility for the custody and safekeeping of a portion of the fund’s bitcoin.
The article presents the move as a way to spread risk across more than one custodian and strengthen protection for investors’ assets, and suggests it could set a benchmark for other bitcoin ETF issuers. It describes BitGo and Coinbase as established custody providers with advanced security features, and places Valkyrie’s decision within a wider trend among investment firms towards higher security standards for digital assets.