Bitcoin ETF Provider Valkyrie Adds BitGo as Second Custodian in Risk Mitigation Move
The digital asset investment firm has become the first of the ETF providers to diversify custody of its coins by tapping BitGo’s expertise in addition to Coinbase.
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Valkyrie
The digital asset investment firm has become the first of the ETF providers to diversify custody of its coins by tapping BitGo’s expertise in addition to Coinbase.
(Nikhilesh De/CoinDesk)
Gary Gensler’s SEC has some bitcoin ETF reading to do. (Jesse Hamilton/CoinDesk)
BlackRock will use J.P. Morgan and Jane Street as their authorized participants. Valkyrie has also named Jane Street in addition to Cantor Fitzgerald.
The option, which expires at the end of March, gives the company a foothold in the U.S. ETF market as speculation whirls around the approval of a spot bitcoin product.
The asset manager Thursday said it had already begun purchasing ether futures contracts.
The fund’s new strategy to combine ether and bitcoin will be effective formally on Oct. 3.