BitGo has expanded its institutional over-the-counter trading platform to include derivatives capabilities, adding another service as the company prepares for its public market debut.
The digital asset infrastructure provider announced Tuesday it will enable institutions to trade OTC derivatives with a BitGo trading entity while holding client collateral in separately regulated BitGo custody accounts.
Tim Kan, former head of sales trading at QCP Capital, has joined BitGo as director of derivatives trading to lead the OTC derivatives team. The hire accompanies the platform expansion announced as BitGo pursues a U.S. initial public offering targeting up to $1.96 billion in valuation.
BitGo launched its OTC trading desk in February 2025, initially offering spot trading and financing solutions. The company said the desk has grown its institutional client base since launch, providing execution and settlement through regulated infrastructure.
"As institutional participation in digital asset markets continues to mature, clients are increasingly seeking the ability to execute more sophisticated strategies without compromising on custody, risk management, or operational controls," said Mike Belshe, co-founder and CEO of BitGo.
The derivatives offering targets hedge funds, digital asset treasury companies, miners, lenders, and trading firms seeking yield generation, risk hedging, and directional exposure strategies. Trades execute bilaterally with BitGo's OTC desk with support for multiple digital assets and collateral types.
Kan said institutional demand for derivatives strategies combined with separately regulated custody solutions is increasing. "BitGo has built an institutional OTC platform that prioritizes security, reliability, and disciplined execution," he stated.
The expansion integrates derivatives trading within BitGo's existing prime services platform, which includes electronic trading, collateral management, and settlement solutions. The company positions the combined offering as enabling sophisticated strategies while maintaining custody standards and operational controls.
BitGo, founded in 2013, ranks among the largest crypto custody providers in the United States. The company filed its IPO prospectus last week with Goldman Sachs and Citigroup as lead underwriters, planning to list on the New York Stock Exchange under the ticker "BTGO."
