BitGo Buys Asset Manager Software Developer HeightZero

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Crypto custodian BitGo has recently acquired HeightZero, a company that provides software for asset managers.

According to CoinDesk, the exact amount of the acquisition has not been disclosed.

The publication highlights that this move by BitGo may attract clients of HeightZero who are interested in investing in digital assets.

HeightZero offers various services such as portfolio rebalancing, reporting, support for tax loss harvesting strategies, and automated invoicing.

Institutional players, as well as some crypto firms, are increasingly focused on offering safe and long-term instruments, with a particular emphasis on mainstream asset managers and regulated investment advisers (RIAs).

BitGo CEO Michael Belshe commented that RIAs should take advantage of BitGo’s acquisition of HeightZero and its qualified custody services before cryptocurrency ETFs are approved.

He believes that once ETFs are approved, there will be a significant spike in demand for Bitcoin, and those who do not act quickly will miss out on potential growth.

Earlier this summer, BitGo had entered into a preliminary agreement to acquire Prime Core Technologies, which includes Prime Trust, for 100% of its shares.