Valkyrie has added BitGo as a custodian for its spot bitcoin exchange-traded fund, according to a regulatory filing posted on Thursday. 

Valkyrie said it still plans to have Coinbase Trust Company stay on as a custodian as well. 

"The Sponsor anticipates utilizing the custodial services of both Coinbase and BitGo to custody the Trust’s bitcoin," Valkyrie said.

Many of the spot bitcoin ETFs that got approval from the Securities and Exchange Commission have Coinbase as their custodians, including BlackRock, Bitwise and Ark21. The Hashdex spot bitcoin ETF, which was also approved last month, lists BitGo as its custodian. 

Competition heats up

Spot bitcoin ETF issuers are looking at ways to increase profitability as competition heats up among the firms, according to …