Crypto custody giant BitGo confidentially files for US IPO
The company joins a growing list of crypto firms exploring IPOs, including Gemini, Bullish, Galaxy Digital, and Kraken.
Key Takeaways
- BitGo has confidentially filed for a US initial public offering amid improving crypto market sentiment.
- The firm's assets under custody grew from $60 billion to $100 billion in early 2025, driven by increased crypto adoption and regulatory clarity.
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BitGo, a leading crypto custody provider, said Monday it has filed to go public in the US, becoming the latest crypto company to pursue a public listing as Trump’s pro-crypto stance boosts market confidence.
The announcement follows earlier reports that BitGo was considering an IPO as early as the second half of this year. At the time, the company was said to be in talks with advisers regarding the plan, though no final decision had been made.
The crypto custody provider has not yet determined the number of shares to be offered or the price range for the proposed offering. The IPO will proceed after the SEC completes its review process, subject to market and other conditions.
Founded in 2013, BitGo has expanded from providing multi-signature Bitcoin wallets to offering regulated custody, trading, lending, borrowing, staking, and core infrastructure services for digital assets.
The company raised $100 million in 2023 at a $1.75 billion valuation, with backing from Goldman Sachs Group, DRW Holdings, Redpoint Ventures, and Valor Equity Partners.
BitGo’s assets under custody have grown from $60 billion to $100 billion in the first half of 2025, said Abel Seow, the company’s managing director for Asia-Pacific, in a June interview with Bloomberg.
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