BitGo acquires HeightZero, asset-management software provider
BitGo, a crypto custodian, has acquired HeightZero — a firm that provides software for asset managers. CoinDesk reports.
Financial terms of the deal were not disclosed.
The publication notes that HeightZero’s clients may be interested in opportunities to invest in digital assets.
The company handles portfolio rebalancing, reporting, support in implementing tax-loss harvesting strategies and automated invoicing.
Many institutional players and some crypto firms are looking to offer safe, long-term instruments with an emphasis on core asset managers and registered investment advisers (RIAs).
“RIAs must contact BitGo, obtain access to HeightZero, qualified custodial services, and do this now, before ETF approval. Then there will be huge demand for Bitcoin. You will miss the big growth,” — commented BitGo CEO Mike Belshe.
Earlier in June, the crypto custodian entered into a preliminary agreement to acquire 100% of Prime Core Technologies, which includes Prime Trust. Subsequently the company backed out of purchasing the latter.
Earlier in August, BitGo closed a financing round of $100 million, valuing the custodian at $1.75 billion.
In September, the head of the SEC Gary Gensler, during a hearing in the U.S. Congress, stated that the agency continues to study the court ruling in the Grayscale case, as well as numerous applications for spot bitcoin ETFs based on digital gold.
Earlier, CryptoQuant analysts forecast a rise in the price of the first cryptocurrency to $50,000–$73,000 after the Commission approves the instrument.
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