Crypto custody firm BitGo is considering a public listing in the U.S., reportedly filing confidentially with the SEC.
On Monday, BitGo, one of the largest crypto custody firms in the United States, disclosed that it has confidentially applied for a public listing.
This action places it in the company of an expanding number of digital asset firms that are seeking to capitalize on the increasing interest of investors and the favorable political environment.
The startup, which was established in 2013 and is headquartered in Palo Alto, is dedicated to the protection and administration of digital assets for institutional customers.
According to the company, BitGo’s assets under custody have increased from $60 billion in the first half of 2025 to $100 billion as demand for crypto custody increases.
Goldman Sachs, DRW Holdings, Redpoint Ventures, and Valor Equity Partners comprise its investors.
BitGo Files Amid $4T Market Boom, Crypto Listings Heat Up
BitGo has acknowledged that the number of shares and price range are still to be determined, even though the IPO details are being kept under secrecy. The firm’s decision to go public is consistent with a more general trend in the sector, which has seen a resurgence in the momentum for crypto listings as a result of institutional inflows and regulatory clarity.
A record-breaking rally in Bitcoin, which surpassed US$120,000, recently propelled the total market value of the crypto industry to exceed $4 trillion for the first time.
Concurrently, political backing has become increasingly apparent. Last week, US President Donald Trump signed the first federal legislation to regulate stablecoins, describing it as a “significant step toward the establishment of American dominance in global finance and crypto technology.”
BitGo Enhances Trading Services and Capitalizes on Institutional Demand Before the Initial Public Offering
Several companies in the industry have been encouraged by his crypto-friendly actions. The Winklevoss twins founded Grayscale and Gemini, which have also submitted confidential listings applications, while exchange operator Bullish recently disclosed its IPO plans. In June, Circle, the issuer of USDC, made its public debut to a favorable market response.
BitGo is currently attempting to capitalize on this trend. Earlier this year, it established an over-the-counter trading desk for digital assets to satisfy the increasing demand from hedge funds and other institutional participants. The desk provides lending for margin transactions, as well as spot and options trading.
Additionally, the organization has been expanding its operations on a global scale. It has recently obtained regulatory sanction under the European Union’s Markets in Crypto-Assets (MiCA) framework, which will enable it to expand its services throughout the bloc. This approval represents a critical milestone in its strategy to extend beyond the United States market.
Bank Charter Bid Indicates Ambitions Beyond Crypto Custody
Additionally, BitGo is investigating the possibility of establishing a more substantial presence in conventional finance. The company was rumored to be one of a small number of crypto firms that were awaiting regulatory clarity in May to apply for a US bank charter.
BitGo would be able to expand its financial offerings within the current banking system if the move were approved.
BitGo raised $100 million in 2023 at a valuation of $1.75 billion. Since that time, it has discreetly established itself as a critical infrastructure player in the crypto ecosystem.
BitGo’s IPO could be a critical moment for the company and the broader effort to integrate digital asset firms into the financial mainstream as market conditions become more favorable and political support increases.
