BitGo Considers IPO in H2 2025 After Surge in Crypto Custody Assets

BitGo, a leading cryptocurrency custody firm, is eyeing an initial public offering as early as the second half of 2025. The move follows a dramatic increase in assets under custody, which soared from $60 billion to $100 billion in the first half of the year. Abel Seow, BitGo's Asia-Pacific managing director, credits the 67% growth to rising global crypto adoption and clearer regulatory frameworks.

Half of BitGo's holdings are tied to staking, a process that generates yield by validating blockchain transactions. The company, founded in 2013, provides institutional clients with custody, trading, lending, and borrowing services. Its 2023 Series C fundraising round secured $100 million at a $1.75 billion valuation, backed by prominent investors like Valor Equity Partners and Goldman Sachs.

An IPO would mark a significant milestone for BitGo, joining a wave of crypto firms seeking public listings amid growing U.S. government support for digital assets. The company has also expanded internationally, with South Korea's Hana Financial Group and SK Telecom among its recent partners.