Asset management firm Valkyrie has announced that digital asset trust company BitGo will act as the custodian for their new Bitcoin (BTC) exchange-traded fund (ETF).
In a filing to the United States Securities and Exchange Commission, it was revealed that the two companies had entered into a custodial services agreement.
BitGo will be responsible for the custody and safekeeping of the Bitcoin held by Valkyrie’s ETF.
While Valkyrie had originally planned to use Coinbase Trust Company as its custodian, they have now decided to use both Coinbase and BitGo as part of their strategy to diversify their digital asset custodians. BitGo also acts as the custodian for another spot Bitcoin ETF issuer, Hashdex, making them the second custodian for such ETFs.
