BitGo, with $11.9 billion staked, adds a Jupiter validator for SOL

BitGo added a validator run with Solana trading platform Jupiter to the SOL staking it offers institutional clients, the companies said Oct. 28, expanding a business that brought the NYSE-listed custodian $64.7 million in second-quarter revenue.

The setup serves funds that keep tokens with a regulated custodian. Staking inside that custodian lets them collect Solana rewards without sending assets to a second provider, a step the companies said reduces operational complexity.

U.S. custody rules shift as BitGo becomes a national trust bank

The Securities and Exchange Commission (SEC) proposed digital asset custody rules for investment advisers and regulated funds on Oct. 1, 2026. Public comments are due Dec. 7, according to the SEC.

BitGo's U.S. custodian became a national trust bank, BitGo Bank & Trust, N.A., after the Office of the Comptroller of the Currency (OCC) approved its conversion from a South Dakota trust company on Dec. 12, 2025, BitGo said.

Solana's 691 validators held 437.3 million SOL in active stake as of Oct. 28, according to Validators.Solutions. Jupiter's validator ranked fifth, with about 9.7 million SOL, or 2.2% of the total.

By the numbers

How the Jupiter x BitGo validator works

Clients delegate SOL to the Jupiter x BitGo validator from their existing BitGo accounts, and the tokens stay in BitGo's regulated custody. The Solana protocol pays the staking rewards, according to the announcement.

BitGo's custody offers cold storage, insurance of up to $250 million and bankruptcy-remote protections, the companies said. They did not disclose the validator's commission, its stake or how many clients have signed up.

Jupiter's existing validator charges 5% on inflation rewards and 0% on maximal extractable value (MEV) rewards, according to Jupiter's documentation. The companies did not say whether the BitGo validator uses the same terms.

Staking matters to BitGo's revenue. Staking fees were $60.8 million in the second quarter at a 6.0% take rate, and staked assets made up 18.3% of assets on platform, by our calculation from BitGo's second-quarter results.

Abel Seow, managing director and head of Asia-Pacific sales at BitGo, said staking has to fit into institutions' existing custody and approval processes.

Kash Dhanda, Jupiter's chief operating officer, said running a validator is how Jupiter invests in Solana's base layer.

How we got here

• Dec. 12, 2025: The OCC approves BitGo's conversion into a national trust bank.
• Jan. 22, 2026: BitGo lists on the NYSE after pricing its IPO at $18 a share.
• Aug. 12, 2026: BitGo reports $11.9 billion in staked assets for the second quarter.
• Oct. 1, 2026: The SEC proposes digital asset custody rules for advisers and regulated funds.

For newly developed digital assets, "custodial capabilities may lag an asset's deployment by many months," SEC Chairman Paul Atkins said in his Oct. 1 statement on the proposal.

Adding staking for a network such as Solana is the kind of custodial capability that, in Atkins' account, can trail an asset's launch.

What to watch: BitGo results on Nov. 9

BitGo reports third-quarter results after the U.S. market close on Nov. 9, with a call at 5 p.m. EST, the company said Oct. 26. The release will show whether assets staked moved from $11.9 billion on June 30.

Comments on the SEC custody proposal are due Dec. 7. The agency can adopt a final rule only after the comment period closes.

It is not yet known how much SOL BitGo clients will delegate to the new validator.

Details of the partnership come from Jupiter's announcement and could not be independently verified.