BitGo Considers IPO Amidst Growing Crypto Industry Support
BitGo Inc. is reportedly exploring an initial public offering (IPO), following the trend of crypto companies seeking regulatory support for their plans.
The Palo Alto-based firm is in discussions with potential advisors for a listing in the second half of 2025. In 2023, BitGo raised $100 million from investors, including Goldman Sachs and DRW Holdings, valuing the company at $1.75 billion.
Deliberations are ongoing, and no final decisions have been made. BitGo declined to comment.
An IPO would align with the recent surge in crypto companies preparing to go public, encouraged by President Trump's support for the industry. Gemini, Bullish Global, Circle, and Kraken are among those considering or targeting IPOs.
BitGo, founded in 2013, is a leading US crypto custodian, enabling clients to trade, borrow, and lend digital assets. It serves over 1,500 institutional clients in 50+ countries, processing approximately 8% of global Bitcoin transactions by value.
Its custody services compete with Coinbase and traditional banks increasingly offering similar offerings. In 2021, Galaxy Digital Holdings planned to acquire BitGo for $1.2 billion but terminated the agreement the following year.