Coinbase Custody has been selected by Grayscale Investments to provide its custody services for the underlying assets for each of its products.
Coinbase Custody will serve as custodian for Grayscale’s single-asset investment products and their underlying assets, including bitcoin (BTC) and ethereum (ETH).
In addition, it will be the custodian for Grayscale’s diversified investment product, Grayscale Digital Large Cap Fund, which provides exposure to digital currencies by market capitalisation and is currently comprised of BTC, ETH, bitcoin cash, and litecoin.
Sam McIngvale, CEO at Coinbase Custody, said: “Grayscale and Coinbase have led the way in providing safe, secure, trustworthy, and regulated access to digital assets. Grayscale is an established, trusted, and valuable partner to its clients and its service providers should be the same.”
He added: “Coinbase Custody is held to the same fiduciary standards as national banks. We also offer some of the broadest and deepest insurance coverage in the crypto industry.”
