Wells Fargo initiates Bitgo at 'overweight' on growing crypto custody adoption
ReutersFeb 17, 2026 3:57 PM
Wells Fargo initiates coverage of crypto custody firm Bitgo BTGO.N with "overweight" rating; sets PT of $13
Says adoption of crypto by large financial institutions (FIs) is still in the early innings and BTGO has first-mover advantage with strong compliance protocols
Given its strong emphasis on secure storage, BTGO has developed strong partnerships with FIs, crypto providers and tech platforms - Wells Fargo
Adds that while BTGO is not immune to crypto volatility, it is more insulated than most
Including session's moves, BTGO down 55.6% since its debut on January 22
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