BitGo shifts focus to prime brokerage for all revenue

BitGo, a NYSE-listed digital asset infrastructure firm, is shifting its business focus toward prime brokerage services. During an interview in Singapore on October 6, 2026, CEO Mike Belshe announced his ambition for prime brokerage to become the sole source of the company's revenue.

The strategy allows institutional investors to generate returns while their assets remain in secure custody. Clients can engage in trading, borrowing, and settlement without moving their holdings out of safekeeping. This integrated approach is facilitated by two key products: BitGo Prime for brokerage services and the Go Network for seamless trading, financing, and settlement.

BitGo has made significant strides in 2026 to bolster its prime brokerage capabilities. In August 2026, the company acquired NYDIG’s institutional trading unit, enhancing its derivatives execution and financing services. By September 2026, BitGo and Crossover Markets had achieved over $2 billion in cumulative cleared volume. Additionally, BitGo expanded its off-exchange settlement arrangement with OKX in October 2026 to include international clients, allowing traders to leverage exchange liquidity while keeping collateral with the custodian.

The company's infrastructure includes BitGo Bank & Trust, a federally chartered digital asset trust bank, supporting over 1,550 digital assets with $250 million in insurance. BitGo went public on January 22, 2026, raising approximately $213 million and valuing the company above $2 billion. The shift to prime brokerage services aims to address institutional clients' needs for integrated custody, lending, trade execution, and settlement, similar to traditional finance models.