BitGo Explores IPO Amid Favorable Crypto Regulatory Landscape

Crypto custodian BitGo is exploring a potential initial public offering (IPO), joining other cryptocurrency firms anticipating a more favorable regulatory landscape. The Palo Alto, California-based firm has reportedly engaged in discussions with potential advisers regarding a listing that could come in the later half of the year, according to sources familiar with the matter. BitGo raised $100 million in funding in 2023 at a $1.75 billion valuation from investors including Goldman Sachs, DRW Holdings, Redpoint Ventures, and Valor Equity Partners. The firm is deliberating on going public, and no final decision has been made.

Various cryptocurrency firms have started exploring public listings over the past few months. Gemini, the cryptocurrency trading platform founded by the Winklevoss twins, is considering an IPO as soon as this year, as is Bullish Global, the exchange backed by billionaire Peter Thiel. Other firms, including USDC issuer Circle and cryptocurrency exchange Kraken, have for long held plans to go public.

Franklin Templeton has taken a step towards launching a spot solana exchange-traded fund (ETF) by registering a trust in Delaware. The “Franklin Solana Trust” was registered on Feb. 10, with the registration having been handled by CSC Delaware Trust Company. To bring its proposed solana ETF to market, Franklin Templeton will need to submit a form 19b-4 and a form S-1 with the U.S. Securities and Exchange Commission (SEC).

Wall Street giant Goldman Sachs has increased its exposure to ether exchange-traded funds by 2,000% in the fourth quarter of last year, while also boosting its spot bitcoin ETF holdings to over $1.5 billion. The investment bank’s ether ETF holdings rose from $22 million to $476 million, split almost evenly between BlackRock’s ETHA and Fidelity’s FETH, and with $6.3 million in the Grayscale Ethereum Trust (ETHE). The firm also bolstered its bitcoin ETF holdings by 114% to $1.52 billion.

Leading cryptocurrency news outlet CoinDesk has announced the launch of the CoinDesk Mobile App, which is designed to bring users the latest cryptocurrency news, real-time market data, and expert insights. The app