Cryptocurrency custody specialist BitGo has acquired HeightZero, a software platform dedicated to providing wealth managers with tools to incorporate cryptocurrencies into their clients’ portfolios. The acquisition strengthens BitGo’s capacity to offer secure long-term crypto holdings for institutional clients. BitGo CEO, Mike Belshe, has urged wealth managers and regulated investment advisors (RIAs) to prepare for the imminent approval of a spot Bitcoin exchange-traded fund (ETF) by taking action now. HeightZero’s services, which include portfolio rebalancing, statement generation, tax loss harvesting, and automated billing, will enhance BitGo’s ability to cater to the growing institutional interest in crypto wealth management.

Summary:

BitGo, a cryptocurrency custody specialist, has acquired HeightZero, a software platform that assists wealth managers and regulated investment advisors (RIAs) in incorporating cryptocurrencies into their clients’ portfolios. With the impending approval of a spot Bitcoin ETF, BitGo CEO, Mike Belshe, advises wealth managers and RIAs to act swiftly in preparation for the increasing demand for Bitcoin. The acquisition of HeightZero strengthens BitGo’s ability to provide secure long-term crypto holdings for institutional clients. HeightZero’s services, including portfolio rebalancing and tax loss harvesting, will enhance BitGo’s crypto wealth management offerings.

Frequently Asked Questions (FAQ)

What is BitGo?

BitGo is a cryptocurrency custody specialist that provides services to institutions wishing to securely store and manage digital assets.

What is HeightZero?

HeightZero is a software platform that helps wealth managers and regulated investment advisors incorporate cryptocurrencies into their clients’ portfolios. It offers a range of services, including portfolio rebalancing and automated billing tailored to crypto clients.

Why did BitGo acquire HeightZero?

The acquisition of HeightZero strengthens BitGo’s ability to offer secure long-term crypto holdings for institutional clients. It enhances BitGo’s crypto wealth management services and aligns with the growing institutional interest in the crypto market.

Why is BitGo urging wealth managers and RIAs to prepare for a spot Bitcoin ETF approval?

BitGo’s CEO, Mike Belshe, believes that the approval of a spot Bitcoin ETF will trigger a surge in Bitcoin demand. To capitalize on this growth opportunity, Belshe advises wealth managers and RIAs to take action now by partnering with BitGo and incorporating cryptocurrencies into their clients’ portfolios.

What are some of HeightZero’s services?

HeightZero offers services such as portfolio rebalancing, statement generation, tax loss harvesting, and automated billing specifically tailored for crypto clients.