BitGo and Other Crypto Firms Eye IPOs Amid Market Surge

Institutional crypto custody firm BitGo is reportedly considering an initial public offering (IPO) as early as this year, according to Bloomberg. The move aligns with a broader trend of digital asset companies exploring public listings amid bitcoin’s surge past $100,000 and a more favorable regulatory environment in the U.S.

Founded by Mike Belshe, BitGo has backing from major investors, including Goldman Sachs, DRW Holdings, Redpoint Ventures, and Valor Equity Partners. The company’s latest funding round in 2023 valued it at $1.75 billion, positioning it as a strong contender for an IPO.

BitGo isn’t alone in seeking public market exposure. Several other crypto firms, including exchanges Gemini, Kraken, and Bullish—the parent company of CoinDesk—as well as stablecoin issuer Circle, are also reportedly weighing IPOs. The growing interest in public listings reflects increasing investor confidence in the crypto sector, driven by institutional adoption and regulatory clarity.

With bitcoin reaching new all-time highs and institutional demand growing, crypto companies see IPOs as a strategic move to secure capital and expand operations. BitGo’s potential listing could further solidify its position in the digital asset custody space, catering to institutions seeking secure solutions for cryptocurrency storage.

As the industry evolves, the trend of crypto firms going public signals a maturing market and greater mainstream acceptance. Investors and market watchers will be closely monitoring developments as these companies move toward public listings.