BitGo Holdings, a leading cryptocurrency custody specialist, has acquired HeightZero, a top-tier digital asset management platform (TDAMP) catering to the needs of wealth managers. The acquisition solidifies BitGo’s status as one of the pioneering digital asset companies offering a holistic solution tailored for wealth management professionals.
In a press statement on Tuesday, CEO of Bitgo, Mike Belshe, highlighted the acquisition as a commitment to strengthening the position of both companies and their clients in the digital asset space.
Belshe stated, “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 enhancing the safety, security, and features provided in the joint products.”
With digital assets becoming a focal point in wealth management, a recent industry survey by VettaFi and Bitwise revealed that 90% of advisors field questions about digital assets, but only 15% are actively allocating to crypto in client accounts. Advisors cited concerns about centralized institution failures, custody issues, and limited investment options as significant barriers.
AJ Nary, Co-Founder of HeightZero, stated, “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.”
