Digital asset financial instruments require regulated custodians to secure the underlying assets.
BitGo’s support underscores the growing industry-wide call “for institutional-grade custody-first solutions.”
BitGo has been a long-time collaborator with Valkyrie Investments, a global crypto-focused asset manager with $220 million in AUM.
BitGo is the largest independent qualified custodian worldwide, “making BitGo the ideal partner to serve the market’s needs for Bitcoin ETFs.”
Mike Belshe, CEO of BitGo, said:
“Valkyrie Investments has already made a name for itself, providing investors with funds to tap into the digital asset space. Earlier this year, they took a new step forward with their newest ETF to help investors around the world get access to Bitcoin. It’s a privilege to be their custodian to support their product. We aim to demonstrate the value in private custody solutions to drive the next wave of adoption.”
Steven McClurg, Chief Investment Officer of Valkyrie Investments, said:
“Valkyrie has a long-standing relationship with BitGo and is excited to grow the partnership between our firms,”
As the industry enters the next phase of institutional interest, spot Bitcoin ETFs have already become a popular vehicle attracting billions in volume since their January 2023 launch.
BitGo has been the gold standard for qualified custody in the digital asset industry. Our core ethos is focused on creating a market structure that separates custody from trading. Independent and qualified digital asset custody has become increasingly important to regulators in the U.S. and worldwide to ensure secure and compliant custody.
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 is behind “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 first qualified custodian purpose-built for storing digital assets, and established BitGo New York Trust in 2021.”a
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.”