BitGo Charges Toward IPO Frenzy as Crypto Firms Rush to Go Public

Crypto custody giant BitGo just threw its hat in the IPO ring—joining the gold rush of digital asset firms racing to cash in on Wall Street's sudden appetite for blockchain plays.

Wall Street wants a piece of the action

After years of treating crypto like radioactive waste, traditional finance is now scrambling to get exposure. BitGo's move signals institutional validation—or maybe just that VCs need an exit strategy before their tokens unlock.

The custody specialist's IPO plans come hot on the heels of Coinbase's landmark listing and Kraken's rumored SPAC deal. Because nothing says 'mature asset class' like a parade of companies rushing to sell shares before the SEC changes its mind.

One cynical observer might note that IPOs tend to peak right before cycles turn. But hey—this time is different, right?

Regulatory wins

As part of its international growth plan, BitGo recently obtained regulatory approval under the European Union’s Markets in Crypto-Assets (MiCA) framework.

The authorization allows the company to offer custody services throughout all EU member states, creating a streamlined regulatory pathway for operations across the bloc.

This milestone places BitGo among the first major U.S.-based digital asset firms to gain pan-European compliance under MiCA. The company aims to use this foundation to deepen relationships with European financial institutions seeking regulated crypto exposure.

Meanwhile, in the U.S., BitGo is pursuing a national bank charter, which WOULD allow it to further integrate with traditional banking infrastructure and offer services under a more comprehensive regulatory structure.

Crypto IPOs

BitGo’s MOVE follows a broader wave of digital asset companies preparing for public listings after Circle’s spectacular debut earlier this year.

Several crypto firms, including Grayscale, Bullish, and Gemini, have also taken steps toward IPOs in recent months, encouraged by improved regulatory clarity and growing institutional interest.

Investor enthusiasm has grown alongside the latest crypto market rally, with Bitcoin recently trading above $120,000 and institutional capital continuing to flow into blockchain assets.

BitGo previously raised $100 million in 2023 at a valuation of $1.75 billion, reflecting strong backing from strategic investors focused on crypto infrastructure.

If completed, BitGo’s IPO would add to the growing list of digital asset companies trading on U.S. exchanges and signal increasing maturity in the sector.