- BitGo filed a confidential Form S‑1 with the SEC on July 21, planning a U.S. IPO.
- The crypto market’s 2025 rally and regulatory clarity have encouraged firms like Grayscale and Gemini to file IPOs.
- BitGo’s listing date depends on SEC review and market conditions; no public timeline has been confirmed yet.
Crypto custody firm BitGo has confidentially filed for an initial public offering (IPO) in the United States, according to a July 21 Reuters report. The company submitted a draft S-1 registration statement with the U.S. Securities and Exchange Commission (SEC), though details like share numbers and pricing remain private for now.
Founded in 2013, the Palo Alto-based BitGo provides custody, wallet, and trust services for institutional clients. The firm was valued at $1.75 billion after a $100 million funding round in 2023. This IPO filing signals BitGo’s intent to tap public markets during a time of renewed interest in the crypto industry.
Crypto Market Conditions Support Timing
BitGo’s filing arrives as the broader crypto market experiences a major rebound. Bitcoin has climbed over 26% since the beginning of 2025. Meanwhile, the total market capitalization of cryptocurrencies has surpassed $4 trillion. Increased institutional adoption and new U.S. legislation, including stablecoin rules and clearer guidelines for digital asset firms, have contributed to this surge.
Other crypto companies, such as Grayscale and Gemini, have also filed confidentially for IPOs in recent months. This trend suggests growing confidence among crypto firms to enter public markets under improved regulatory conditions.
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The SEC will now review BitGo’s submission before the company can release its full prospectus. If the agency completes its review without major objections, BitGo will move forward with its IPO process, including a roadshow and pricing phase.
More Crypto Firms Eye Public Listings
BitGo’s confidential filing adds to a list of crypto-native companies pursuing traditional financial routes to raise capital. The company’s move follows years of expansion in institutional custody and reflects broader efforts by the digital asset industry to align with mainstream finance.
So far, BitGo has not issued any public comments regarding the IPO timeline. The final listing date will depend on regulatory approvals and overall market conditions.
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