Oddbean

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 Valkyrie, one of the providers of the spot bitcoin exchange-traded funds (ETFs) now trading in the U.S., has added BitGo as a second custodian for its Bitcoin Fund (BRRR). 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. Mike Belshe, CEO of BitGo, described the partnership as a "huge win," in a post on X, adding that Valkyrie is "leading the industry with the best approach to mitigate risk in ETF custody."