BitGo files for a $200m NYSE IPO led by Goldman Sachs and Citigroup as institutional crypto custody demand grows despite a choppy post-2025 market.
BitGo, a cryptocurrency custody provider, has filed for a U.S. initial public offering seeking to raise $200 million, according to regulatory documents.
The Palo Alto, California-based company and existing shareholders plan to list on the New York Stock Exchange in an offering led by Goldman Sachs and Citigroup, the filing showed.
Founded in 2013, BitGo provides storage and security services for institutional digital assets. The company’s services have gained prominence as traditional financial institutions have expanded their cryptocurrency operations.
The filing adds BitGo to a growing list of cryptocurrency companies pursuing public listings. Stablecoin issuer Circle and crypto exchange Bullish completed initial public offerings in 2025, while exchange operator Kraken has announced plans for a public listing.
The offering comes as the cryptocurrency sector faces heightened investor scrutiny following an October market downturn. Broader pressure on technology and artificial intelligence valuations has shifted capital toward more established, regulated operations, according to market analysts.
The IPO market is expected to continue its recovery in 2025 following improvements in the prior year, though conditions remain uncertain due to tariff volatility, government policy changes, and recent technology stock weakness, according to market observers.
BitGo’s custody model serves institutional demand for secure digital asset storage as banks and asset managers increase their exposure to blockchain technology and cryptocurrency markets.
