BitGo files for U.S. IPO, joining Grayscale and Bullish, with $100B in custody assets, signaling crypto’s mainstream push.
BitGo, a crypto custody firm, is the most recent company to apply for a U.S. IPO. This development indicates the industry’s increasing regulatory certainty, which is expected to result in a positive trajectory for these companies. Just one week after Grayscale and Bullish also submitted their initial public offerings, BitGo has submitted its own.
The SEC filing of BitGo’s IPO has taken center stage
The crypto firm disclosed in a press release that it has submitted a confidential draft registration statement to the Securities and Exchange Commission (SEC) concerning its proposed initial public offering of Class A common stock. The company acknowledged that it has not yet determined the number of shares it will offer and their price range.
The BitGo IPO is contingent upon the Commission’s completion of its review procedure and market and other conditions. The company is the most recent to participate in the IPO trend, which has been facilitated by the Trump administration’s regulatory clarification of the crypto industry.
Grayscale had confidentially filed for a U.S. IPO before Crypto Week, coinciding with the GENIUS Act’s successful passage, as previously reported. In a manner similar to BitGo’s statement, the asset manager stated that it has not yet determined the number of shares it will offer or the price range.
The crypto exchange Bullish, which Peter Thiel sponsors, also applied for a U.S. IPO last week. In contrast to the Grayscale and BitGo IPO filings, the crypto exchange disclosed several critical details.
The main underwriters for the public offering are Deutsche Bank, Citigroup, and J.P. Morgan. Concurrently, the organization intends to list on the New York Stock Exchange (NYSE) under the ticker symbol “BLSH “.
Assets in Custody: $100 Billion
The BitGo IPO is scheduled amid the crypto firm’s impressive momentum. The organization’s website indicates it maintains $100 billion in assets on its platform. The platform is also recognized as the premier prime broker and custodian.
The crypto custodian has been instrumental in the distribution of repayments from the Mt. Gox and FTX Bankruptcy Estate and has amassed a client base of over 1,500 institutions since its establishment in 2013. This is particularly noteworthy.
