BitGo, 21Shares Expand Partnership…Stepping Up ETF Custody and Staking Cooperation

Doohyun Hwang

Summary

BitGo said it will significantly expand its partnership with global crypto asset manager 21Shares.
Under the deal, BitGo said it will provide custody and staking services for 21Shares’ U.S. ETFs and global ETPs.
BitGo said it plans to provide the services through regulated entities approved by the OCC, BaFin and under MiCA.

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Digital-asset custody specialist BitGo is set to significantly expand its partnership with global crypto asset manager 21Shares.

On the 12th (local time), BitGo and 21Shares said they will extend their existing collaboration to support custody and staking (deposit) services for 21Shares’ crypto exchange-traded products (ETPs) for investors in the United States and Europe.

Under the agreement, BitGo will provide qualified custody, trading and execution services, and integrated staking infrastructure for 21Shares’ U.S. exchange-traded funds (ETFs) and global ETP products. 21Shares will also secure access to liquidity across electronic trading and the broader over-the-counter (OTC) market via BitGo.

BitGo said it plans to deliver the services through regulated entities, including a federal trust bank approved by the U.S. Office of the Comptroller of the Currency (OCC) and a local subsidiary in Germany that has obtained a Markets in Crypto-Assets (MiCA) license from the Federal Financial Supervisory Authority (BaFin).