Wall Street analysts are betting that BitGo’s push into full-service institutional crypto finance will not only fuel long-term growth but also position the company as a prime acquisition target for traditional finance firms.

Compass Point analyst Ed Engel, who has a buy rating on the stock, wrote that the firm’s services could be attractive to traditional firms looking to offer crypto products to their clients.

“We … view BTGO as an ideal M&A target for Wall Street companies expanding into crypto. BitGo offers a full suite of services that could be integrated into traditional prime brokers and new entrants could acquire BitGo to provide these solutions to clients,” the analyst wrote.

BitGo was one of the first digital asset firms to go…