thecryptobasic.com
BitGo Holdings, one of the longest-standing crypto custody firms, has confidentially filed for an initial public offering (IPO) with the U.S. SEC.
With this move, BitGo joins a growing list of digital asset firms that have pursued public listings in recent times.
The draft registration statement, submitted on Form S-1, does not yet disclose the number of shares to be offered or a proposed price range. In accordance with Rule 135 of the Securities Act, BitGo noted that the announcement does not constitute an offer to sell securities.
Shortly after, Grayscale Investments and trading platform Bullish also filed confidentially with the SEC. The trend indicates that crypto companies are now seeing a more convenient environment to go public under the more crypto-friendly President Donald Trump’s administration.
These moves also coincide with the historic surge in crypto asset prices. Last week, Bitcoin peaked above $123,000 and is currently ranging around the $120,000 level.
BitGo’s Comeback Moment
Founded in 2013, BitGo is best known for safeguarding crypto assets for institutional clients, including exchanges, funds, corporations, and ETF issuers. The company claims to hold over $100 billion in assets under custody and supports more than 1,200 tokens on its platform.
This IPO marks a significant moment for BitGo, which had previously planned to be acquired by Mike Novogratz’s Galaxy Digital for $1.2 billion in 2022. That deal ultimately fell apart, leading to litigation. The development forced BitGo to remain private while rivals like Coinbase went public.
With BitGo’s confidential IPO underway, the industry is also on the lookout for similar moves from others like Ripple, Gemini, and Kraken.