TLDR
- BitGo filed a confidential IPO with the SEC, joining Grayscale and Bullish in 2025.
- BitGo manages over $100 billion in digital assets across institutional clients.
- The number of shares and IPO price range remain undisclosed pending SEC review.
- Crypto IPO activity rises as U.S. market hits $4 trillion and regulations stabilize.
BitGo, one of the largest crypto custody firms in the world, has taken a major step toward going public by filing for a U.S. IPO. The confidential filing with the SEC follows similar moves by Grayscale and Bullish, signaling growing momentum in the crypto sector. As regulatory clarity improves and market confidence returns, leading digital asset companies are moving quickly to tap into public markets and expand their reach.
BitGo Submits Confidential IPO Filing with SEC
BitGo Holdings Inc. announced it has confidentially submitted a draft registration statement to the SEC for the proposed offering of its Class A common stock. The filing comes as part of a broader trend of crypto companies seeking to enter public markets.
The company has not yet revealed the number of shares it will offer or the expected price range. BitGo stated the IPO will take place once the SEC review is complete and market conditions are suitable. This aligns with standard IPO procedures under U.S. securities law. The submission was made under Form S-1, which companies use when planning to go public.
🚨 JUST IN: Crypto firm BitGo has confidentially filed for a U.S. IPO. pic.twitter.com/Olaikluaw8
— Crypto Briefing (@Crypto_Briefing) July 21, 2025
The firm also clarified that this filing is not a public offer or a call to buy any securities. It follows SEC Rule 135, which allows companies to make such announcements without revealing specific offering terms.
Crypto Firms Push Ahead with IPOs in 2025
BitGo’s filing comes shortly after Grayscale and Bullish submitted their own IPO documents. This wave of public listings is happening during a period of growing investor interest and a recovering capital market. The renewed activity follows the passage of new U.S. crypto laws and increased support from the current administration.
Bullish, backed by Peter Thiel, shared more details than its peers, including naming J.P. Morgan, Citigroup, and Deutsche Bank as underwriters. Bullish also confirmed it aims to list under the ticker “BLSH” on the New York Stock Exchange.
In February, Bloomberg reported that BitGo had IPO plans for the second quarter of the year. That report has now been confirmed by this week’s filing. With more companies entering the IPO pipeline, industry observers are watching how regulators respond to the influx of crypto-related offerings.
BitGo Expands Public Market Ambitions Amid Industry Growth
Founded in 2013, BitGo provides digital asset custody, trading, and security services. Its clients include hedge funds, family offices, crypto exchanges, and institutional investors. The company plays a key role in crypto infrastructure, especially in safeguarding large volumes of digital assets.
BitGo was previously valued at $1.75 billion and is known for its secure, regulated custody services. It holds more than $100 billion in digital assets under management, making it one of the largest firms of its kind in the crypto space.
The IPO comes shortly after the global cryptocurrency market capitalization reached $4 trillion, driven by increasing institutional participation and policy clarity. BitGo joins a growing list of crypto firms that are going public, including Circle, Kraken, and others preparing to access public funding markets.
BitGo’s move signals the next step in the firm’s growth as it looks to attract more capital and expand its services. However, the final offering date will depend on the outcome of the SEC review and the state of financial markets at the time of approval.
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