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BitGo has filed a confidential Form S-1 at the SEC, planning a U.S. IPO.
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The crypto-market’s 2025 rally, and regulatory clarity, have encouraged firms such as Grayscale and Gemini file IPOs.
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The SEC’s review and market conditions will determine the listing date of BitGo. No public timeline has yet been confirmed.
According to a report by Reuters on July 21, crypto custody firm BitGo filed confidentially for an initial public offer (IPO) in the United States. The company filed a draft S-1 Registration Statement with the U.S. Securities and Exchange Commission. However, details such as share numbers and pricing are still private.
BitGo, a Palo Alto based company, was founded in 2013. It provides custody, wallet and trust services to institutional clients. The firm’s value was $1.75 billion in 2023 after a $100-million funding round. This IPO filing signals BitGo’s intention to tap the public markets at a time when interest in crypto is on the rise.
Crypto Market Conditions Support Timing
BitGo’s filing comes as the crypto market in general is experiencing a major recovery. Bitcoin has risen by over 26% since 2025. The total market capitalization for cryptocurrencies has now surpassed $4 trillion. This surge has been attributed to increased institutional adoption, new U.S. laws, including stablecoin regulations and clearer guidelines governing digital asset firms.
In recent months, other crypto companies such as Grayscale, Gemini and others have also filed for IPOs on a confidential basis. This trend indicates that crypto firms are becoming more confident about entering public markets under improved regulations.
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The SEC must now review BitGo’s submission before it can release its complete prospectus. If the SEC completes its review with no major objections, BitGo can move forward with the IPO process. This includes a roadshow, pricing phase, and a pricing phase.
More crypto firms are looking at public listings
BitGo’s filing is a confidential one, and it joins a growing list of crypto-native firms that are pursuing traditional financial routes for raising capital. The move by BitGo follows years of growth in institutional custody, and reflects the broader efforts made by the digital assets industry to align itself with mainstream finance.
BitGo has yet to make any public statements regarding the timeline for its IPO. The final listing will depend on market conditions and regulatory approvals.
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