BitGo Files for U.S. IPO as Crypto Custody Market Booms

Highlights:

• BitGo has filed for a U.S. IPO amid rising market confidence.
• Assets under custody increased from $60 billion to $100 billion in early 2025.
• BitGo joins Grayscale and Bullish in launching IPOs during a strong crypto rebound.

BitGo has filed a draft registration statement with the U.S. Securities and Exchange Commission in preparation for an IPO. The filing is confidential, and so financial details are not yet revealed. The company has not determined the volume of shares or the price range. The move indicates emerging confidence in the crypto market, with large companies rushing to go public. The move comes after an impressive year in the digital asset infrastructure industry. Moreover, the IPO of BitGo will happen based on the market dynamics and SEC approval.

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BitGo Holdings, Inc. today announced that it has confidentially submitted a draft registration statement on Form S-1 to the U.S. SEC relating to the proposed initial public offering of its Class A common stock. The number of shares to be offered and the price range for the…

— Wu Blockchain (@WuBlockchain) July 21, 2025

BitGo was launched in 2013, initially offering multi-signature wallets but has since grown into a complete crypto custody platform. The company provides over 1,200 digital tokens to a large number of institutional clients globally. Furthermore, the company currently has assets under custody of more than $100 billion, a steep increase over $60 billion at the beginning of the year, according to Bloomberg. This growth was encouraged by market optimism and a fresh institutional demand.

BitGo’s plans to list follow the move by Grayscale and Bullish to file IPO documents. The wave of applications indicates the increased investor interest and attractive regulatory environment in the U.S.

BitGo Leads Industry into Capital Markets

BitGo’s IPO is another milestone on the way to crypto entering mainstream finance. A number of successful listings have already been preconditioned. For instance, the recent listing of Circle on the NYSE received high investor interest. According to market experts, the entry of BitGo will go further to legitimize the digital asset industry to traditional investors. The institutional-level services offered by the company are trading, staking, lending, and secured custody.

BitGo has already secured $100 million in funding, including the contributions of Goldman Sachs and Valor Equity. That round gave the firm a $1.75 billion valuation. This solid backing places BitGo in a good position to navigate the public market with a lot of confidence. Despite not having given a timeline, the IPO might occur before the end of this year. The offering of the company will rely on the course of the review by the SEC and market trends.

Under regulatory tailwinds, BitGo and others are rushing to position themselves on public exchanges. President Trump’s administration has had a more positive approach to crypto, spurring filings across the board.

Expansion and Global Licensing Strengthen BitGo

BitGo is also expanding globally in order to facilitate its next growth stage. In Europe, the firm got licensed under the MiCA framework. This approval allows it to provide services in all the member states of the EU. The BaFin regulator of Germany issued BitGo with a license, which enables it to serve a wider range of crypto-native and traditional customers. Moreover, this regulatory green light creates new growth avenues in Europe.

In addition to Europe, BitGo is expanding to Asia. It opened affiliate offices in Singapore, an emerging crypto hub, after the Singapore Monetary Authority granted the company a Major Payment Institution License in August.

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