Valkyrie Bitcoin Fund adds BitGo as second bitcoin custodian alongside Coinbase

CoinShares Bitcoin ETF

Entered Custodial Services Agreement with BitGo Trust Company on Jan 17, 2024 to custody a portion of the Trust's bitcoin holdings.
Agreement runs one year, auto-renews; requires BitGo to maintain insurance covering theft of private keys and insider dishonesty.
Existing custody arrangement with Coinbase Trust Company unaffected; both custodians will be used going forward.
Trust indemnifies BitGo against certain losses; BitGo may terminate immediately if legal or regulatory non-compliance risk perceived.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

CoinShares Bitcoin ETF entered into Custodial Services Agreement with BitGo Trust Company, Inc. valued at Custodial Services Agreement between Valkyrie Bitcoin Fund and BitGo Trust Company, Inc. dated Janua (effective 2024-01-17).

Action: entry
Counterparty: BitGo Trust Company, Inc.
Value: Custodial Services Agreement between Valkyrie Bitcoin Fund and BitGo Trust Company, Inc. dated Janua
Effective: 2024-01-17

Exact text from the filing

On January 17, 2024, Valkyrie Bitcoin Fund (the "Trust") and BitGo Trust Company, Inc. ("BitGo"), a South Dakota trust company duly organized and chartered under the South Dakota Banking Law, entered into a Custodial Services Agreement (the "Agreement").

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CoinShares Bitcoin ETF filing history →

Source: SEC EDGAR

accession 0001999371-24-001339

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