Valkyrie Adds BitGo as Second Custodian for Bitcoin ETF, Leading Industry in Risk Mitigation
Valkyrie, a provider of spot bitcoin exchange-traded funds (ETFs) in the U.S., has added BitGo as a second custodian for its Bitcoin Fund. This move makes Valkyrie the first ETF provider to diversify custody of its coins by using both Coinbase and BitGo. The partnership has been praised by industry commentators who predict that other ETF providers will follow suit and add supplementary custodians in the near future. Other fund issuers are reportedly in talks with Gemini, Kraken, BitGo, and others to serve as secondary custodians.
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