BitGo, a leading cryptocurrency custody firm, is reportedly considering an initial public offering (IPO) as soon as the latter half of this year, according to sources familiar with the matter. The Palo Alto-based company is in discussions with the matter.
The Palo Alto-based company is in discussions with potential advisers about the move, which reflect the growing momentum for crypto firms seeking public listings.
According to Bloomberg, cryptocurrency custodian BitGo Inc. is considering an initial public offering (IPO) to align with regulatory support for the crypto industry, with plans to list as early as the second half of this year. The company raised $100 million in 2023, bringing its…
— Wu Blockchain (@WuBlockchain) February 11, 2025
BitGo’s Strategic Move in a Shifting Regulatory Landscape
The rumor come into light when crypto companies are finding renewed optimism under the evolving regulatory environment. The prospect of a public listing would place BitGo among a growing cohort of digital asset firms eyeing IPOs, including Gemini, the exchange operated by the Winklevoss twins, and Bullish Global, a cryptoasset exchange backed by billionaire Peter Thiel. Additionally, firms like Circle Internet Financial Ltd. and Kraken have long harbored ambitions to go public.
BitGo has yet to finalize its decision, and the listing timeline remains tentative. The company has so far declined to comment on the speculation.
Founded in 2013, BitGo has emerged as a dominant player in crypto custody services, offering trading, lending and security solutions for digital assets. The firm serves over 1,500 institutional clients across 50 countries and facilitates approximately 8% of global Bitcoin transactions by value.
BitGo’s IPO discussion started amid changing market dynamics and political shifts. CEO Mike Belshe recently hosted a fundraiser for former President Donald Trump’s 2024 campaign with an entry fee of $3,300 per person, featuring running mate JD Vance.
Donald Trump’s pro-crypto stance has sparked industry sentiment. Under his new administration, the leadership of federal agencies is expected to form crypto-friendly environment.
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Source: https://www.cryptonewsz.com/bitgo-eyes-ipo-institutional-crypto-adoption/