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BitGo Prime has added Virtu Financial to its liquidity network, expanding access to pricing for institutional digital asset clients.
Virtu's prices are now available through BitGo Prime alongside those of other liquidity providers on the platform. Clients do not need a separate relationship with Virtu, and trades are routed through BitGo Prime's aggregated liquidity pool.
Assets remain in custody with BitGo Bank & Trust or BitGo Europe during trading and settlement. This gives institutions access to Virtu's liquidity without moving assets out of regulated custody arrangements.
The arrangement adds another market maker to BitGo Prime's network as competition intensifies among firms seeking institutional digital asset order flow. BitGo says the model is designed to give clients a single connection to multiple counterparties, rather than requiring separate agreements and technical links with each provider.
Custody model
Under this structure, trading takes place directly from custody rather than after assets are transferred to a separate venue. Assets remain with BitGo's OCC-chartered trust bank in the US or with BitGo Europe, which holds a Markets in Crypto-Assets Regulation licence from Germany's Federal Financial Supervisory Authority (BaFin).
That setup addresses a long-running issue for institutional investors in digital assets, where trading access has often required firms to split assets across venues and counterparties. By keeping custody and liquidity access connected, providers aim to reduce operational complexity for asset managers, funds, and other large traders.
BitGo Prime positions itself as a layer that aggregates pricing from multiple sources. Adding Virtu increases the number of counterparties competing to fill orders, which can influence spreads and execution quality as the platform selects among quotes.
Market maker
Virtu is a publicly traded market maker with operations across equities, exchange-traded funds, foreign exchange, futures, fixed income, and commodities. The firm trades on hundreds of venues in more than 50 countries, and its addition brings an established electronic trading group further into the institutional crypto market.
The agreement also reflects the ongoing overlap between traditional market-structure firms and digital asset infrastructure providers. As institutional participation in crypto grows, custody, settlement, and liquidity are increasingly being packaged together to mirror aspects of established capital markets.
Adam Sporn, Head of Prime Brokerage and US Institutional Sales at BitGo, said the move is intended to improve execution and resilience for clients operating across different market conditions.
"Clients continue to look for trusted partners that can provide deep liquidity, consistent execution, and operational reliability through all market conditions," said Adam Sporn, Head of Prime Brokerage and U.S. Institutional Sales at BitGo. "Expanding our liquidity network with leading firms like Virtu is an important part of delivering a best-in-class trading experience for our clients."
For BitGo, the addition reinforces a model built around aggregation rather than reliance on any single venue or dealer. Institutions often divide activity across exchanges, liquidity providers, and bilateral counterparties, creating operational overhead in onboarding, connectivity, and settlement.
BitGo's pitch is that one connection can replace much of that fragmented setup. In practice, the platform combines quotes from several providers into a single pool, allowing the system to route client flow to the provider offering the best available price at a given moment.
Broader push
Virtu cast the move as part of its broader digital asset expansion. The firm has been extending its market-making approach into crypto as more institutional clients seek access to digital assets through familiar trading structures.
"The addition of Virtu to BitGo's network reflects Virtu's continued commitment to expanding our presence across digital assets, allowing us to increase liquidity and provide institutional clients with the competitive pricing they have come to expect across other asset classes we participate in," said Scotte Moegling, Head of Business Development for Digital Assets at Virtu Financial.
The development highlights how digital asset trading infrastructure is evolving toward models common in other asset classes, in which institutions expect access to multiple liquidity providers without having to manage each one directly.
Virtu operates in more than 50 countries and on hundreds of venues, and its pricing is now automatically included in the pool available to BitGo Prime clients.