VanEck Adds Coinbase as Custodian for HODL Bitcoin ETF

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On Friday, June 28, VanEck made a significant update to its Bitcoin Trust by appointing Coinbase as an additional custodian for its HODL Bitcoin ETF. This agreement includes specific terms and safeguards to protect the ETF’s Bitcoin holdings.

This move is a major achievement for Coinbase, which is already the custodian for eight other Spot Bitcoin ETFs, including those from BlackRock, Bitwise, and Grayscale.

Coinbase has been appointed as an additional custodian for the VanEck Bitcoin Trust, with its primary role being to hold the Bitcoin in cold storage. This means the Bitcoin will be stored offline to protect it from potential cyber threats, except when temporarily moved for withdrawals.

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