BitGo plans to go public: The next big step in the crypto market!

BitGo plans to go public: The next big step in the crypto market!

On July 22, 2025, BitGo announced that it had filed confidential documents for an initial public offering in the United States. This announcement comes at a time when the crypto market recently surpassed the impressive $4 trillion market cap mark. BitGo, founded in 2013 in Palo Alto, California, is considered one of the largest crypto custodians in the US and offers comprehensive digital asset custody services, particularly for institutional clients such as exchanges, banks and investment firms.

The most recent funding round in August 2023 raised $100 million for BitGo, increasing the company's valuation to $1.75 billion. This valuation is an increase compared to $1.2 billion assessed in connection with a failed takeover attempt by Galaxy Digital in August 2022. This original plan failed due to the failure to provide audited financial records, resulting in a $100 million lawsuit against Galaxy Digital.

IPO plans and market environment

BitGo joins a growing list of crypto companies that have either already gone public or announced plans to do so. These include companies such as Circle and eToro, which are already listed on the stock exchanges. Circle shares have gained more than 630% since listing. According to information from Genfinity BitGo plans to go public by the second quarter of 2025.

The timing of the IPO plans coincides with advances in crypto regulation in Washington. US lawmakers are currently working on a regulatory framework for the crypto industry, which many observers believe is a positive development for the market. Chris Taylor, the NYSE listing chief, predicts an increase in IPO applications in 2025, indicating favorable market conditions.

Strategic expansion

The recently secured funding round will be used by BitGo to improve security infrastructure, expand institutional services, and strengthen regulatory compliance. In addition, the company plans to use the newly raised capital for strategic acquisitions and to expand its custody services and wallet solutions globally. Participation in Hedera's Governing Council since the beginning of 2024 also strengthens BitGo's role in decentralized governance and asset management in the Hedera ecosystem.

Overall, the accumulation of IPOs in the crypto sector illustrates the growing maturity of the industry and its integration into traditional financial markets. Trending Topics highlights that with other companies such as Grayscale, Gemini and Bullish also pursuing IPO plans, the development of the sector is making significant progress.