BitGo prepares for IPO, targeting fall debut
BitGo's plans
One of the largest cryptocurrency custodians in the US, BitGo Inc., is considering an initial public offering (IPO). The company may list on a stock exchange as early as the second half of 2025 and is currently in discussions with potential advisors, according to sources familiar with the matter.
As reported by Bloomberg, BitGo raised $100 million in investments in 2023, reaching a valuation of $1.75 billion. Its investors include Goldman Sachs, DRW Holdings, Redpoint Ventures, and Valor Equity Partners. However, company leadership has not made any official announcements regarding an IPO in recent years.
BitGo’s potential IPO is part of a broader trend among crypto firms looking to capitalize on the pro-crypto stance of US President Donald Trump. In 2025, other companies such as the Gemini exchange (owned by the Winklevoss twins), crypto trading platform Bullish Global, as well as Circle and Kraken, are also considering going public.
BitGo CEO Mike Belshe is an active supporter of Trump. In July 2024, he hosted a fundraising event for the president’s reelection campaign, with ticket prices set at $3,300 per attendee.
The largest crypto custodian in the U.S.
Founded in 2013, BitGo is one of the largest digital asset custody platforms in the US. The company serves more than 1,500 institutional clients across 50 countries and processes approximately 8% of all Bitcoin transactions worldwide.
BitGo competes with Coinbase in the custody services sector, while traditional banks are increasingly interested in offering similar services amid a more favorable regulatory environment in the US.
In 2021, billionaire Michael Novogratz’s crypto firm Galaxy Digital planned to acquire BitGo for $1.2 billion, but the deal was canceled in 2022.
At the end of last year, BitGo Singapore, a subsidiary of BitGo, officially launched its initiative to provide secure and regulated custody, trading, settlement, and digital asset management services in the Asia-Pacific region (APAC).
