BitGo CEO Mike Belshe Wants Prime Brokerage to Be Nearly All Revenue

BitGo chief says prime brokerage should drive the business

BitGo Holdings Inc. wants prime brokerage to become the main engine of its business, co-founder and Chief Executive Mike Belshe said. BitGo is a US crypto custodian, meaning it holds crypto assets for clients, and it went public this year.

Belshe said the company is expanding its trading, financing and settlement services. He made the comments in an interview in Singapore, according to Bloomberg.

What Belshe said in the interview

• BitGo is a US crypto custodian that listed on the public market this year.
• Belshe, the company's co-founder and CEO, wants prime brokerage — services such as trading, financing and settlement for clients — to become BitGo's main revenue source.
• He said he would like prime brokerage to account for all of the company's revenue.
• He also said BitGo does not want to charge clients for custody.

Belshe's comments on custody fees

In the interview, Belshe framed the plan as a move away from charging for storage of assets. “We would like it to be 100% of our revenue,” he said. “We want to help you make money rather than be a cost center. Nobody wants to pay for custody. We don’t want to charge you for custody.”

What is confirmed

Bloomberg published the interview on October 6, 2026, at 6:39 AM UTC. The report is by Suvashree Ghosh. The comments are attributed to Belshe, who spoke in Singapore. The words in quotation marks above are his.

BitGo's status as a US crypto custodian, its public listing this year, and the fact that Belshe is co-founder and CEO all come from the Bloomberg report.

What is still unclear

The supplied material does not say how much of BitGo's revenue comes from prime brokerage today, how much comes from custody, or how long the shift is expected to take. It also does not name specific products or clients tied to the plan. No other sources were supplied to confirm or expand on the report.

Why this matters for crypto clients

Prime brokerage means serving clients with trading, financing and settlement rather than only holding their assets. Belshe's comments point to a business model where custody is not the main source of income, because he said clients do not want to pay for it. That is the plan he described, not a confirmed change in BitGo's reported results.

Sources

• Bloomberg Crypto

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