Cryptocurrency custody behemoth BitGo has confidentially filed with the U.S. Securities and Exchange Commission in order to go public.
For now, such details as the size of its IPO and share pricing remain under wraps. The prominent custodian was previously valued at $1.75 billion.
The company, whose clients include family officers, trading firms, hedge funds, as well as crypto exchanges, boasts more than $100 billion worth of assets under management.
The confidential IPO filing does not come as a surprise, given that Bloomberg reported in February that the company had such plans for the second quarter of the year.
BitGo has joined a slew of other major cryptocurrency players that are going public. As reported by U.Today, asset management giant Grayscale also recently filed for an initial public offering (IPO). Kraken and Bullish, two major crypto exchanges, are also part of the crypto IPO frenzy that was recently reignited by the highly successful public debut of USDC issuer Circle.
Crypto companies are going public en masse in 2025 due to the US government adopting a crypto-friendly stance as well as growing institutional appetite.
As reported by U.Today, the shares of crypto giant Coinbase, which was the first major company to go public in the US, recently reached a new record high for the first time since its debut in April 2021.
Vladislav Sopov
U.Today Editorial Team