BitGo Acquires HeightZero to Strengthen Wealth Management Solutions
BitGo Holdings, Inc. announced the acquisition of HeightZero, an outstanding digital asset management platform (TDAMP) primarily catering to the needs of wealth managers seeking tools for digital asset exposure on behalf of their clients. With the acquisition of HeightZero, BitGo has positioned itself as one of the pioneering digital asset companies offering a holistic solution for wealth managers.
“Today the HeightZero platform is universally rated as the best solution for wealth managers and SLAs working in the digital asset market. We’ve been proud to have partnered with HeightZero over the past several years and to be a part of their incredible growth. This acquisition is a doubling down in the space for BitGo, HeightZero, and our clients. We look forward to maintaining HeightZero’s leadership position, while increasing the safety, security, and features provided in the joint products,” stated Mike Belshe, CEO of BitGo.
A recent survey conducted by VettaFi and Bitwise revealed that while 90% of advisors are fielding inquiries about digital assets, only 15% are actually investing in crypto for client accounts. Concerns about institutional failures, custody complications, and limited investment options were cited as major obstacles by advisors.
In response, HeightZero has developed a scalable, comprehensive solution aimed at streamlining digital asset management, offering advisors a familiar interface. This solution includes a range of professionally managed strategies from top index providers, as well as portfolio products such as portfolio rebalancing, statement generation, tax loss harvesting, and automated billing. When integrated with BitGo’s qualified custodial solutions, investment managers can now be assured that their assets are secure in segregated accounts, adhering to strict standards subject to regular independent audits.
“We are thrilled to join forces with BitGo, a pioneer and the leading digital asset custodian. Digital assets and blockchain technology are quickly moving to the forefront of wealth management, making it critical to provide solutions to a wide range of asset managers and RIAs. Together, we are poised to drive innovation and address the evolving needs of the industry, ensuring that our clients are well-equipped for the future of finance,” said AJ Nary, Co-Founder of HeightZero.
“HeightZero’s technology platform combined with BitGo’s institutional grade custody is what asset managers like us need to safely and securely deliver our full discretionary service to financial advisors in the US efficiently. We pride ourselves in working with partners like BitGo and HeightZero who are aligned with our mission and won’t compromise on security,” stated Marc Nichols, Product Director at Arbor Digital Investment Management.
Additionally, BitGo has recently partnered with UAE-based Matrix, a regulated crypto Exchange, to provide Matrix with a comprehensive range of crypto custodial services, including hot- and cold-storage capabilities, to ensure the protection of traders on its platform. BitGo also provides custody services for CoinMENA.
“We are constantly expanding in the Middle East and specifically in the UAE, a hidden gem with an innovative virtual asset landscape,” says Mike Belshe, CEO of BitGo. Moreover, it was disclosed that the company is currently applying for a license in the UAE.
