BitGo will Serve as a Custodian for 21Shares’ US Spot ETFs
Now the custodian for four ETF funds, BitGo continues to solidify its position as the preferred custodian for issuers seeking security and reliability
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Since launching, digital asset ETF issuers have selected BitGo as their custodian of choice, prioritizing security for ETF holders
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BitGo’s offering includes regulated cold storage within a bankruptcy remote structure to minimize risk for investors
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ETF issuers continue to adopt a multi-custodial approach to managing their assets signaling that diversification is crucial as the industry matures
Digital asset exchange-traded funds (ETFs) have played a pivotal role in providing a diverse range of investors with exposure to cryptocurrencies this year. Since inception these ETFs have seen approximately $16 billion in inflows, underscoring the importance of robust and diverse custody infrastructure.
BitGo will serve as a custodian for 21Shares’ US Spot ETFs — the ARK 21Shares Bitcoin ETF (ARKB) and the 21Shares Core Ethereum ETF (CETH). BitGo currently serves as a custodian for two other ETF issuers, Hashdex and Valkyrie (now Coinshares), demonstrating its commitment to providing secure solutions for digital asset ETFs issuers and protecting investors’ assets.
“We’re excited that 21Shares is adopting a multi-custodial approach, prioritizing security for ETF holders. BitGo is proud to offer 100% cold storage as the leading independent custodian, serving the industry for over a decade as a trusted partner, and now for ETF issuers too,” said Mike Belshe, CEO of BitGo.
As a qualified custodian BitGo is responsible for safeguarding assets with an enhanced level of diligence. Assets are secured with institutional-grade cold storage and robust security measures, mitigating the risk of theft or mismanagement. BitGo’s $250MM insurance policy and bankruptcy-remote structure also provide peace of mind for both issuers and investors.
“We look forward to growing our partnership with the great team at 21Shares as they have achieved an impressive growth in ETF assets over the last 8 months,” said Adam Sporn, BitGo’s Head of Prime Brokerage and U.S. Institutional Sales.
To learn more about BitGo’s custody offering, visit our website today.
About BitGo
BitGo is the leading infrastructure provider of digital asset solutions, delivering custody, wallets, staking, trading, financing, and settlement services from regulated cold storage. Since our founding in 2013, we have focused on enabling our clients to securely navigate the digital asset space. With a large global presence through multiple regulated entities, BitGo serves thousands of institutions, including many of the industry's top brands, exchanges, and platforms, as well as millions of retail investors worldwide. As the operational backbone of the digital economy, BitGo handles a significant portion of Bitcoin network transactions and is the largest independent digital asset custodian, and staking provider, in the world. For more information, visit www.bitgo.com.
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