BitGo, one of the US’ largest crypto custody firms, has confidentially filed for a public listing, the company said on Monday.
The move positions it among a growing list of digital asset firms looking to tap into rising investor appetite and favorable political tailwinds.
The Palo Alto-based startup, founded in 2013, specializes in securing and managing digital assets for institutional clients. As demand for crypto custody surges, BitGo’s assets under custody have grown to $100b, up from $60b in the first half of 2025, the company said.
Its investors include Goldman Sachs, DRW Holdings, Redpoint Ventures and Valor Equity Partners.
Image Source: BitGo statement
While details on the IPO remain under wraps, BitGo noted that the number of shares and price range are yet to be determined. The firm’s decision to go public follows a broader trend in the sector, where regulatory clarity and institutional inflows have revived momentum for crypto listings.
The crypto industry’s total market value recently surged past $4 trillion for the first time, fueled by a record-breaking rally in Bitcoin, which climbed above US$120,000.
At the same time, political support has grown more visible. Last week, US President Donald Trump signed the first federal legislation to regulate stablecoins, calling it a “giant step to cement American dominance of global finance and crypto technology.”
His crypto-friendly moves have emboldened several companies in the space. Exchange operator Bullish recently disclosed its IPO plans, while Grayscale and Gemini, founded by the Winklevoss twins, have also filed confidentially for listings. Circle, the issuer of USDC, debuted publicly in June with a strong market reception.
BitGo is now looking to ride this wave. Earlier this year, it launched an over-the-counter trading desk for digital assets to meet rising demand from hedge funds and other institutional players. The desk offers spot and options trading as well as lending for margin trades.
The firm has also been expanding internationally. It recently secured regulatory approval under the European Union’s Markets in Crypto-Assets (MiCA) framework, allowing it to extend its services across the bloc. That approval marks a key step in its plan to grow beyond the US market.
Further, BitGo is exploring a deeper foothold in traditional finance. In May, the company was reported to be among a handful of crypto firms seeking a US bank charter, pending regulatory clarity. If granted, the move would allow BitGo to broaden its financial offerings within the existing banking system.
In 2023, BitGo raised $100m at a valuation of $1.75b. Since then, it has quietly built a presence as a key infrastructure player in the crypto ecosystem.
With market conditions turning more favorable and political support growing, BitGo’s IPO could mark a pivotal moment for the company, and for the broader push to bring digital asset firms into the financial mainstream.
