BitGo Stealthily Files for IPO Amid Crypto Gold Rush—Wall Street Prepares to ’Understand Blockchain’

Crypto custody giant BitGo just dropped the ultimate Wall Street plot twist—a confidential IPO filing. No bells, no whistles, just a quiet power move as digital asset firms race to cash in on public market mania.

The quiet storm strategy

While meme-stock traders were distracted by GameStop 2.0, BitGo bypassed the hype circus entirely. Their under-the-radar SEC submission screams institutional confidence—or at least a well-timed gamble before the next crypto winter.

The great going-public gamble

They're not alone. A stampede of crypto firms are suddenly obsessed with quarterly earnings calls and shareholder lawsuits. Because nothing says 'decentralization' like appeasing hedge fund managers who still think Bitcoin is a type of coffee.

One thing's certain—when the suits start 'hodling,' you know we've reached peak adoption... or peak delusion.

BitGo Holdings, Inc., one of the largest cryptocurrency custody firms in the United States, announced Monday it has confidentially submitted a draft registration statement to the Securities and Exchange Commission for a proposed initial public offering of its Class A common stock.

The Palo Alto-based company did not disclose the number of shares to be offered or the expected price range. The IPO is expected to proceed after the SEC completes its review process, subject to market and other conditions.

Growing Wave of Crypto IPOs

BitGo's filing represents the latest in a surge of crypto companies seeking public listings as the sector gains mainstream acceptance and regulatory clarity. The announcement follows similar moves by several major crypto firms, including exchange Bullish, which also disclosed its IPO paperwork on Saturday.

Crypto-focused asset manager Grayscale and Gemini, the digital assets exchange founded by Tyler and Cameron Winklevoss, have also confidentially filed to go public, signaling broad industry momentum toward public markets.

The wave of filings comes as the crypto sector experiences renewed institutional interest and regulatory developments. Last week, U.S. President Donald TRUMP signed legislation creating a regulatory framework for stablecoins, potentially allowing dollar-pegged digital assets to become mainstream payment tools.

BitGo's Market Position

Founded in 2013, BitGo has established itself as a dominant player in cryptocurrency custody services, storing and protecting digital assets for institutional clients. The company's role has become increasingly critical as traditional financial institutions, corporations, and investment firms expand their crypto holdings.

The custody firm raised $100 million in mid-2023 at a $1.75 billion valuation. As institutional adoption of digital assets has accelerated, custody providers like BitGo have become essential infrastructure for the broader crypto ecosystem.

BitGo offers a range of services beyond basic custody, including trading, lending, and treasury management solutions for institutional clients. The company has positioned itself as a bridge between traditional finance and the digital asset ecosystem, providing the security and compliance frameworks that institutions require.