The U.S. Securities and Exchange Commission (SEC) published a notice on Wednesday, soliciting comments on a proposed rule change by Cboe BZX Exchange. The proposal seeks to amend the ARK 21shares Bitcoin exchange-traded fund (ETF) and the 21shares Core Ethereum ETF by adding two new custodians, Anchorage Digital Bank N.A. and Bitgo New York Trust Company LLC. These custodians will provide bitcoin and ether custody services for the respective trusts.

Currently, Coinbase Trust Company LLC is the sole custodian for both ETFs. The SEC filing explained that Anchorage and Bitgo will also offer custodial services, with assets held in segregated accounts to “clearly identify the bitcoin trust as owner.” The filing further clarified that these accounts would be separate from both the custodians’ own assets and those of other clients. The securities regulator noted:

The New Custodians will each custody the Bitcoin Trust’s bitcoin pursuant to a custody agreement.

The proposal aims to mitigate risks associated with third-party custodial services by diversifying custody providers, the filing details.

The SEC has not yet approved the rule change and is currently soliciting feedback from interested parties. While no new regulatory concerns were raised by the filing, the SEC noted that all other provisions for the ETFs remain unchanged. The public is encouraged to submit comments before the rule change becomes effective.