BitGo, a well-known cryptocurrency custody provider, has announced the acquisition of HeightZero, a startup that provides software tools for wealth managers interested in crypto investments.
BitGo, a well-known cryptocurrency custody provider, has announced the acquisition of HeightZero, a startup that provides software tools for wealth managers interested in crypto investments. While the financial parameters of the transaction were not disclosed, the acquisition demonstrates a rising interest in providing conventional wealth managers and registered investment advisors (RIAs) with secure, long-term crypto assets.
BitGo CEO Mike Belshe believes that the impending ETF approval would result in substantial demand for Bitcoin, and that delaying to participate may result in missing out on growth prospects. HeightZero offers crypto clients services including portfolio rebalancing, statement preparation, tax loss harvesting, and automated billing, making it a beneficial addition to BitGo's products. BitGo just raised $100 million in capital and continues to be active in the acquisition area, positioning itself for strategic growth.
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