BitGo IPO Holdings, one of the top crypto custody firms in the U.S, just took a big step toward going public. On Monday, the Palo Alto-based company shared that it has privately filed a draft with the SEC to launch an initial public offering (IPO).
They haven’t revealed how many shares they’ll offer or what the price might be yet. The IPO will move forward once the SEC reviews the filing, and if market conditions look right. This move shows BitGo’s confidence in its future and could mark a major milestone for the company in the crypto space.
What is BitGo?
BitGo has become one of the most trusted names in crypto custody since its start in 2013. The firm helps big companies, banks, and investment firms keep their digital assets safe, something that’s only become more important as more traditional players get involved in crypto.
By mid-2023, BitGo raised $100 million in funding, which pushed its value to $1.75 billion. That kind of backing shows just how essential companies like BitGo have become in the crypto world. They work quietly behind the scenes, making sure everything runs smoothly and securely for institutions.
But BitGo isn’t just a digital vault. It also helps its clients trade crypto, manage their funds, and even offer loans. With strong security and the kind of financial tools big firms are used to, BitGo is helping to connect the world of traditional finance with the new era of digital assets.
A Growing Market
BitGo’s decision to go public is the latest sign that crypto is moving closer to the financial mainstream. It follows a wave of similar moves, including crypto exchange Bullish, which also filed for an IPO just days earlier.
Other well-known players like Grayscale and Gemini, the exchange started by the Winklevoss twins, have also quietly taken steps toward going public. Together, these filings show that the crypto industry is gaining confidence and gearing up for a bigger role in traditional markets.
This momentum comes at a time when interest from big investors is picking up again, and clearer rules are starting to take shape. Just last week, President Donald Trump signed a new law to regulate stablecoins, a big step that could help digital dollars become part of everyday payments. All signs point to a crypto sector that’s growing up and getting ready for the spotlight.