Together with Anchorage Digital Bank and BitGo, 21Shares is making its U.S. bitcoin exchange-traded funds (ETFs) safer and easier to handle. This statement from September 12 is a big change because these new managers will be in charge of the ARK 21Shares Bitcoin ETF (ARKB) and the 21Shares Core Ethereum ETF (CETH).
They will now handle Bitcoin and Ether for these ETFs. Anchorage Digital Bank is the only government chartered crypto bank in the US, and BitGo is known for having a lot of experience with crypto storage. The goal of this change is to make 21Shares’ products safer and more reliable.
Head of Investment Management at 21Shares, Andres Valencia, stressed how important it is to have a variety of managers. He said that the new relationships are important for managing risks well and running operations well, which will help keep their goods safe overall.
Coinbase has been the most popular custodian for U.S. crypto ETFs, and 21Shares was one of the first to add more custodial partners. Diversification is part of a larger trend in the industry to depend less on a single provider and lower the risks that could happen.
Nathan McCauley, CEO of Anchorage Digital Bank, said that their federal charter gives them a lot of legal stability and security, which makes them a great choice to manage ETF assets. In the same way, BitGo’s pledge to 100% cold storage shows that it is serious about keeping assets safe with the best security methods.
The ARK 21Shares Bitcoin ETF, which came out in January 2024, lets investors trade in Bitcoin. The 21Shares Core Ethereum ETF, which came out in July 2024, follows the success of Ether. Better security services have been added to both ETFs, making them more open and safe for the underlying assets.
