BitGo is exploring an initial public offering and discussing potential advisory arrangements for a listing as soon as the second half of 2025, according to people familiar with the matter.
Crytpo custodian BitGo is considering an IPO as soon as the second half of this year, joining a flood of companies in the sector anticipating more support for their plans from regulators. https://t.co/oxu8e9lSaL
— Bloomberg (@business) February 11, 2025
The Palo Alto, California-based crypto custody firm joins joins a growing number of crypto companies planning public market debuts.
Gemini, the crypto firm backed by the Winklevoss twins, is considering an IPO this year, alongside Bullish Global, a crypto exchange operator backed by Peter Thiel.
Circle and Kraken have also expressed interest in public listings.
Founded in 2013, BitGo serves more than 1,500 institutional clients across 50 countries and processes about 8% of global Bitcoin transactions by value.
The company provides custody services competing with major players like Coinbase, while offering trading, borrowing, and lending of digital assets.
In 2023, the firm raised $100 million at a $1.75 billion valuation. Its investor base includes Goldman Sachs, DRW Holdings, Redpoint Ventures, and Valor Equity Partners.
BitGo CEO Mike Belshe hosted a fundraiser in July for Donald Trump’s presidential campaign, with Republican running mate JD Vance headlining the event.
A BitGo representative declined to comment on the IPO considerations, and deliberations remain ongoing with no final decisions made.
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