BitGo Considers Initial Public Offering Amid Growing Pro-Crypto Sentiment During Trump’s Administration

BitGo, one of the largest cryptocurrency custody firms in the United States, has confidentially submitted a request for a public listing, the company announced on Monday.

This action places it among an increasing number of digital asset companies aiming to capitalize on the growing interest from investors and favorable political conditions.

The startup, based in Palo Alto and established in 2013, focuses on the security and management of digital assets for institutional clients. As the demand for crypto custody rises, BitGo’s assets under custody have escalated to $100 billion, up from $60 billion in the first half of 2025, according to the company.

Its backers include Goldman Sachs, DRW Holdings, Redpoint Ventures, and Valor Equity Partners.

Image Source: BitGo statement

Crypto Listings Accelerate as BitGo Files Amid $4T Market Surge

While specifics regarding the IPO remain undisclosed, BitGo mentioned that the number of shares and pricing range are still to be established. The firm’s choice to pursue a public offering aligns with a broader trend in the industry, where regulatory clarity and institutional investments have rekindled interest in crypto listings.

The total market capitalization of the cryptocurrency sector recently exceeded $4 trillion for the first time, driven by an unprecedented rally in Bitcoin, which surpassed US$120,000.

Simultaneously, political backing has become increasingly apparent. Last week, US President Donald Trump enacted the first federal legislation to regulate stablecoins, describing it as a “giant step to cement American dominance of global finance and crypto technology.”

BitGo Enhances Trading Services, Addresses Institutional Demand Ahead of IPO

His pro-crypto initiatives have inspired several companies in the sector. Exchange operator Bullish recently revealed its IPO intentions, while Grayscale and Gemini, established by the Winklevoss twins, have also confidentially filed for public listings. Circle, the issuer of USDC, went public in June with a positive market response.

BitGo is now aiming to leverage this momentum. Earlier this year, it introduced an over-the-counter trading desk for digital assets to cater to the increasing demand from hedge funds and other institutional investors. The desk provides spot and options trading as well as lending for margin transactions.

The firm has also been expanding its international reach. It recently obtained regulatory approval under the European Union’s Markets in Crypto-Assets (MiCA) framework, enabling it to extend its services throughout the bloc. This approval represents a significant step in its strategy to expand beyond the US market.

Bank Charter Pursuit Indicates Broader Aspirations Beyond Crypto Custody

Moreover, BitGo is investigating a more substantial presence in traditional finance. In May, reports indicated that the company was among a select group of crypto firms seeking a US bank charter, pending regulatory clarity. If approved, this move would enable BitGo to expand its financial services within the existing banking framework.

In 2023, BitGo secured $100 million at a valuation of $1.75 billion. Since then, it has quietly established itself as a crucial infrastructure player in the cryptocurrency ecosystem.

With market conditions becoming more favorable and political support increasing, BitGo’s IPO could signify a critical juncture for the company and for the broader initiative to integrate digital asset firms into the financial mainstream.

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