BitGo Targets $100 billion IPO Amid Crypto Market Surge

- BitGo confidentially submits a draft registration for a US IPO, with over $100 billion in assets under custody. - The company secures European regulatory approval as global crypto momentum surges. On July 21, 2025, Cointelegraph reported that BitGo, a leading cryptocurrency custody firm, confidentially filed for an initial public offering (IPO) in the United States by submitting a draft registration statement on Form S-1 to the Securities and Exchange Commission (SEC). This move signals the company's ambition to integrate more deeply into traditional financial markets and reflects its rapid growth, holding over $100 billion in assets under custody amid increasing interest in digital currencies. According to Cointelegraph on July 21, BitGo’s assets under custody surpassed $100 billion in the first half of 2025, marking a significant milestone in the firm’s trajectory. However, details on the number of shares and the IPO price range remain undisclosed. The confidential filing allows BitGo to privately navigate SEC review processes and evaluate market conditions before making further announcements. Investing.com highlighted on July 21 that BitGo is also expanding its global footprint, having recently secured regulatory approval under the European Union's Markets in Crypto-Assets (MiCA) legislation. This authorization enables BitGo to broaden its digital asset services across the EU and underscores the company's dedication to scaling internationally in the evolving regulatory landscape. Reuters noted on July 21 that BitGo’s IPO filing aligns with a growing trend, as other major cryptocurrency firms, such as Grayscale and Gemini, are also exploring public markets to raise capital for expansion. This comes as the broader cryptocurrency industry’s momentum continues to rise, with the total digital asset market recently surpassing $4 trillion in capitalization. BitGo’s move, therefore, reflects this surge as it aims to bolster its presence in the competitive crypto ecosystem. According to CoinMarketCap on July 21, Bitcoin (BTC) was trading at $52,874 as of 12:00 UTC, reflecting a 1.8% increase in 24-hour trading volume. Meanwhile, Ethereum (ETH) was trading at $3,214, showing a 2.3% boost over the same period.