TL;DR
- BitGo confidentially filed a draft registration for its initial public offering (IPO) with the SEC, signaling its intention to go public.
- The company holds over $100 billion in digital assets and supports more than 1,200 tokens, counting firms like RTFKT Studios and Pantera Capital among its clients.
- The firm aims to join other crypto companies that have gone public in the U.S., such as Circle, Grayscale, and Kraken.
BitGo, a seasoned crypto custody firm, confidentially submitted a draft registration statement for its IPO to the U.S. Securities and Exchange Commission (SEC).
This move indicates its plan to enter the public markets amid strong investor interest in companies connected to the crypto sector, aligned with the industry support under Donald Trump’s administration.
The company did not disclose specific details about the offering size or price range, as these depend on SEC review and market conditions. BitGo has strengthened its position by safeguarding over $100 billion in digital assets and supporting a wide range of tokens, exceeding 1,200. Its clients include well-known firms like RTFKT Studios, Pantera Capital, and crypto exchange-traded fund (ETF) issuers.
BitGo Seeks to Regain Lost Ground
Interest in BitGo’s IPO follows the cancellation of a $1.2 billion acquisition deal led by Galaxy Digital, founded by Mike Novogratz. The breakup triggered legal proceedings that kept BitGo private while competitors such as Coinbase expanded their market presence.
BitGo could join the wave of crypto-related public offerings in the U.S. In recent months, Circle, issuer of USDC, debuted on the New York Stock Exchange, experiencing a remarkable increase in market value. Other companies like Grayscale, Kraken, Gemini, and Ledger are also pursuing similar listings to strengthen their positions in traditional markets.
The IPO pursuit reflects the crypto industry’s growing professionalism and maturity, aiming to integrate with conventional financial markets. BitGo expects to move forward after completing regulatory review, under conditions that allow it to capitalize on the current favorable environment
