The move diversifies spot crypto ETF custodians beyond Coinbase, which has dominated crypto custody for US issuers.
Asset manager 21Shares is adding Anchorage Digital Bank and BitGo as custodians for its spot cryptocurrency exchange-traded funds (ETF), according to a Sept. 12 announcement.
Anchorage Digital Bank and BitGo will join Coinbase, the existing custodian, in the custody of Bitcoin (BTC) and Ether (ETH) for 21Shares’ two United States spot crypto ETFs, ARK 21Shares Bitcoin ETF (ARKB) and 21Shares Core Ethereum ETF (CETH).
“We consider our custody partners to be crucial to the risk management […] of our product lineup, and diversification adds to the safety and security of our offering,” Andres Valencia, 21Shares’s head of investment management, said in a statement.
