On Feb. 1, 2024, Valkyrie Digital Assets, a cryptocurrency asset manager, revealed in a Form 8-K submission to the U.S. Securities and Exchange Commission (SEC) that it has selected Bitgo to provide custodial services for its spot bitcoin exchange-traded fund (ETF).
Bitgo to Safekeep the Bitcoin Assets Associated With Valkyrie’s BRRR
Recently acquired by Coinshares, Valkyrie, the fund management company, declared that Bitgo will engage in “custody and safekeeping of the Trust’s bitcoin holdings,” indicating that the custodian will oversee the funds of Valkyrie’s spot bitcoin ETF. Based in Nashville, Valkyrie was among the nine newly introduced spot bitcoin ETFs that became operational concurrently with the freshly revamped bitcoin trust managed by Grayscale.
The contract stipulates that Bitgo must uphold an insurance policy, which at the very least, provides coverage against duplication and theft of private keys, internal theft or fraudulent acts by Bitgo’s staff or executi
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