Crypto custody firm BitGo is exploring the possibility of launching an initial public offering as early as the second half of 2025, following a significant rise in assets under custody—a sign of growing institutional confidence in digital assets.
In a June 25 interview with Bloomberg, Abel Seow, BitGo’s Asia-Pacific managing director, revealed that the firm’s assets under custody soared from $60 billion to $100 billion in the first half of 2025. He attributed the 67% increase to accelerating global crypto adoption and improving regulatory clarity across key markets.
Roughly half of BitGo’s current assets are tied to staking, a process where users earn yields by pledging tokens to support blockchain transaction validation. Since its founding in 2013, BitGo has expanded beyond custody to offer trading, lending, and borrowing services tailored to institutional clients.
The company previously raised $100 million in its 2023 Series C funding round, achieving a valuation of $1.75 billion with backing from Valor Equity Partners, DRW Holdings, Redpoint Ventures, and Goldman Sachs.
If BitGo goes public, it would mark a major milestone, joining a wave of crypto firms preparing IPOs amid growing regulatory support in the U.S. Since returning to office, President Donald Trump has advocated for digital asset adoption, appointing pro-crypto regulators and pushing for stablecoin-focused legislation.
BitGo has also ramped up its global footprint. In 2024, Hana Financial Group and SK Telecom acquired stakes in BitGo Korea, a joint venture that Seow said is “progressing well.” The firm further expanded into the Middle East with the launch of operations in Dubai in 2025.
Beyond asset growth, BitGo has made several strategic moves in recent months. On June 19, KuCoin integrated with BitGo Singapore’s Go Network to enable off-exchange settlements, part of KuCoin’s $2 billion Trust Project aimed at enhancing institutional trading security.
In June, BitGo also facilitated a $250 million XRP purchase for VivoPower’s treasury, executed in three tranches. The firm has since broadened its support for the XRP ecosystem, including staking for the Flare and Songbird networks.
Earlier this month, BitGo announced plans to develop custody and settlement tools on the Hedera network to support institutional DeFi. On June 23, it also partnered with HTX to offer secure, insured off-exchange trading for large clients through its Go Network.
