Introduction
On July 20, 2025, BitGo, a leading crypto custody and security provider, announced it had confidentially filed with the SEC for an initial public offering (IPO) in the United States. This strategic move underscores the growing mainstream acceptance of crypto-related companies.
Background
Founded in 2013, BitGo provides custody, wallet, and settlement solutions for institutional clients managing cryptocurrencies. It was an early pioneer in cold storage and multi-signature wallets, serving hedge funds, exchanges, and banks worldwide.
The Filing
The confidential filing allows BitGo to prepare its IPO without publicly disclosing sensitive financial details until closer to the offering date. While the valuation is undisclosed, market analysts estimate it could fetch upwards of $5–7 billion.
Market Context
The move comes amid a broader bull run in the crypto sector and a surge in demand for regulated, secure custody solutions. With assets under custody exceeding $300 billion, BitGo is well positioned to capitalize on these trends.
Industry Reactions
Michael Novogratz, CEO of Galaxy Digital, commented: “BitGo’s IPO would validate the enormous growth potential of digital asset infrastructure.”
Potential Impact
A successful IPO would provide BitGo with fresh capital to expand globally, improve technology, and compete with rivals like Coinbase Custody and Fireblocks.
Future Outlook
If approved, BitGo’s public debut is expected later this year, potentially setting the tone for other crypto infrastructure players eyeing IPOs.
