Stacks: BitGo offers institutional BTC staking with STX bonding - 03 Nov 2026

MARA Holdings, a Bitcoin mining firm, transferred 1,000 BTC (worth ~$80M) to BitGo, sparking speculation about potential selling. Market observers warn this could impact Bitcoin's value. Bitcoin's price has declined ~5% in two weeks and ~31% over a year, trading below $80,000. Analysts have mixed views on its near-term outlook.

BitGo, a crypto custody firm, received a national trust charter in December and went public in January with a $2.59B valuation. According to Frank Wang, BitGo's managing director, financial institutions' interest has increased, with two proposals requested recently. BitGo offers banks options to manage digital assets, either independently or through BitGo's regulated custody service. Several banks, including U.S. Bank and SoFi, have launched or plan to launch stablecoins.

BitGo Holdings noted that Bitcoin's price dropped 1.2% in five minutes following a higher-than-expected core CPI print, marking its second-largest decline after a hot inflation report since 2024. The company is a digital asset infrastructure provider.

Evernorth named Ripple, Coinbase, Kraken, and BitGo as partners to manage its 473 million XRP treasury. The company, which began trading on Nasdaq under ticker XRPN, aims to deploy XRP for institutional strategies. Ripple congratulated Evernorth on its debut, calling it a milestone for the XRP ecosystem. Evernorth seeks to generate returns from its XRP reserves, with strategies expected to start in Q4 2026.

Evernorth, holding 473M XRP, has partnered with Ripple, Kraken, Coinbase, and BitGo to deploy its XRP treasury into institutional strategies starting Q4 2026.

Evernorth, a Nasdaq-listed company, has partnered with Ripple, Kraken, Coinbase, and BitGo to deploy its 473 million XRP treasury. The initial operations are set to begin in late 2026.