Palo Alto, CA – BitGo, a leading U.S. crypto custody firm specializing in securing and managing digital assets for institutional clients, announced on Monday, July 21, 2025, that it has confidentially filed for a public listing. This strategic move positions BitGo among a growing cohort of digital asset companies aiming to capitalize on surging investor interest and an increasingly favorable political landscape in the United States.
Founded in 2013, BitGo has seen remarkable growth in demand for its crypto custody services. The company's assets under custody have swelled to $100 billion in the first half of 2025, a significant increase from $60 billion earlier this year. Its impressive roster of investors includes prominent names like Goldman Sachs, DRW Holdings, Redpoint Ventures, and Valor Equity Partners.
While specific details regarding the Initial Public Offering (IPO), such as the number of shares and price range, are yet to be determined, BitGo's decision to go public reflects a broader trend in the crypto sector. Enhanced regulatory clarity and a notable increase in institutional inflows have reinvigorated momentum for crypto listings.
The timing of BitGo's filing is particularly auspicious. The total cryptocurrency market capitalization recently soared past $4 trillion for the first time on Thursday, July 18, 2025, propelled by Bitcoin's record-breaking rally, which saw it climb above $120,000.
Adding to the sector's positive momentum, U.S. political support for crypto has become increasingly visible. Last week, on Friday, July 18, 2025, President Donald Trump signed the first federal legislation to regulate stablecoins, hailing it as a "giant step to cement American dominance of global finance and crypto technology."
President Trump's crypto-friendly stance has emboldened several companies in the digital asset space. Other notable firms, including exchange operator Bullish, crypto asset manager Grayscale, and Gemini (founded by the Winklevoss twins), have also confidentially filed for public listings in recent weeks. Meanwhile, Circle, the issuer of the USDC stablecoin, made a strong public debut in June 2025, further signaling robust investor confidence.
In anticipation of its public offering, BitGo has been actively expanding its service offerings and international footprint to meet rising institutional demand. Earlier this year, in February 2025, the firm launched an over-the-counter (OTC) trading desk for digital assets, catering to hedge funds and other institutional players with offerings like spot and options trading, as well as lending for margin trades.
BitGo's global ambitions are also evident in its recent regulatory achievements. In May 2025, the company secured regulatory approval under the European Union's Markets in Crypto-Assets (MiCA) framework, a crucial step that allows it to extend its regulated services across the entire bloc and grow beyond the U.S. market.Beyond its core crypto custody business, BitGo is exploring deeper integration into traditional finance. The company was reportedly among a select group of crypto firms seeking a U.S. bank charter in May 2025, pending further regulatory clarity. If successful, this move would allow BitGo to broaden its financial services within the existing banking system.
Having raised $100 million at a $1.75 billion valuation in 2023, BitGo has quietly solidified its position as a critical infrastructure provider in the evolving crypto ecosystem. With favorable market conditions and growing political support, BitGo's IPO could prove to be a pivotal moment not only for the company but also for the broader integration of digital asset firms into mainstream finance.
July 2025, Cryptoniteuae