BitGo will serve as the official custody provider for the Hashdex Bitcoin ETF pending approval. ETF applications require regulated custodians.
BitGo’s support underscores “a shared commitment by both companies to a more robust and secure market infrastructure. If approved, Hashdex Bitcoin Futures ETF (ticker: DEFI) will convert to a spot Bitcoin ETF renamed Hashdex Bitcoin ETF.”
BitGo has been a long-time collaborator with Hashdex, a global crypto-focused asset manager with $540M in AUM that “serves as the digital asset advisor for DEFI.”
BitGo, the qualified custodian “for institutions, is the ideal provider to demonstrate separation of custody.”
Mike Belshe, CEO of BitGo, said:
“Hashdex has already paved the way for institutional adoption of digital assets with their spot Bitcoin ETF in Brazil. We are pleased to be their custodian of choice to support their spot ETF application in the U.S. We aim to demonstrate the value in bringing traditional finance risk management and compliance standards to drive the next wave of adoption.”
As the industry matures and institutional interest increases, ETFs will “become an attractive investment vehicle for large asset managers and an option for investors.”
Since 2013, BitGo has committed itself to “providing regulated custody services for digital assets. For fiduciaries, BitGo’s emphasis on demonstrating the ability to separate custody from trading is attractive. Independent and qualified digital asset custody will become increasingly important to regulators in the U.S. and around the world in ensuring secure and compliant digital asset management.”
As covered, BitGo claims that it “provides the most secure and scalable wallet solutions for the digital asset economy, offering regulated custody, staking and trading, and core wallet infrastructure.”
Founded in 2013, BitGo says that it should be credited with pioneering “the multi-signature wallet and is the first digital asset company to focus exclusively on serving institutional clients.”
In 2018, it launched BitGo Trust Company, the qualified custodian purpose-built “for storing digital assets, and established BitGo New York Trust in 2021. In 2022, BitGo launched institutional-grade DeFi, NFT, and web3 services.”
In 2023, BitGo launched the Go Network, which “provides a new market structure for institutions to settle efficiently.”
BitGo secures approximately 20% of “all on-chain Bitcoin transactions by value and supports more than 700 digital assets within its platform.”