BitGo Files for IPO as Assets Surge 66.7% to $100B on Institutional Demand, $1.75B Valuation

BitGo, a leading cryptocurrency custodian, has confidentially filed for an initial public offering (IPO) in the U.S., aligning with a broader trend of digital asset firms seeking public market opportunities. The company, which holds over $100 billion in assets under custody, aims to capitalize on growing institutional demand for secure crypto services while expanding its global footprint. The IPO filing with the U.S. Securities and Exchange Commission (SEC) marks a strategic move to access capital as the crypto sector navigates regulatory shifts and renewed investor interest.

BitGo’s custody business has seen significant growth, with assets surging to $100 billion from $60 billion earlier in 2025. This increase reflects heightened institutional adoption of digital assets, driven by demand for institutional-grade security solutions. The firm’s services now span trading, lending, staking, and secured custody, supporting over 1,200 digital tokens for clients across traditional finance and crypto-native markets. The expansion underscores the maturing infrastructure layer of the crypto economy, where trust and compliance are critical for mainstream adoption.

Regulatory approvals in Europe and Asia have accelerated BitGo’s global expansion. The company recently secured a license under the EU’s Markets in Crypto-Assets (MiCA) framework, enabling operations across the bloc after obtaining authorization from Germany’s BaFin. In Asia, a Major Payment Institution License from Singapore’s Monetary Authority of Singapore (MAS) allows BitGo to serve a broader client base from its Singapore office. These strategic licenses position the firm to compete in key markets where regulatory clarity is fostering innovation in crypto services.

The IPO filing follows a $100 million funding round led by investors including Goldman Sachs and Valor Equity Partners, valuing the company at $1.75 billion. This backing strengthens BitGo’s ability to scale operations, enhance cybersecurity, and enter new markets ahead of its public listing. The timing of the IPO aligns with a broader industry shift, as firms like Grayscale and Bullish have also filed for public offerings. Analysts note that improved regulatory sentiment, including the Trump administration’s more favorable approach to crypto, has created a conducive environment for listings.

BitGo’s entry into public markets highlights the sector’s transition toward institutional legitimacy. As the crypto custody industry consolidates, firms with robust compliance frameworks and global reach are better positioned to capture market share. The company’s focus on institutional clients, combined with its multi-jurisdictional presence, differentiates it in a competitive landscape. While the details of the IPO—such as pricing and valuation—remain undisclosed, the filing signals confidence in the sector’s long-term potential amid ongoing regulatory and market evolution.

The outcome of BitGo’s IPO will hinge on broader market conditions and investor appetite for crypto-related assets. However, the firm’s strategic positioning—coupled with the sector’s alignment with traditional finance—suggests a pivotal role in the next phase of crypto’s integration into the global financial system. By leveraging its institutional client base and expanding infrastructure, BitGo aims to solidify its leadership in a sector poised for sustained growth.