BitGo Is Latest Crypto Firm to File for IPO Following Circle’s Massive Debut

Crypto custody provider BitGo confidentially filed a draft registration statement with the U.S. Securities and Exchange Commission, the firm said Monday, signaling its intent to take its company public.

Details on the amount of common stock or the price range for shares in the initial public offering (IPO) were not provided. 

BitGo’s plans to go public were rumored earlier this year, highlighted by a Bloomberg report that indicated it would seek a public offering in the second half of 2025. The Palo Alto-based firm was last valued as high as $1.75 billion after it completed a Series C fundraising round of $100 million in August 2023. 

By submitting its filing to the SEC, the firm joins crypto exchanges Gemini and Bullish—the latter of which revealed a public filing late Friday—as crypto companies that have recently filed for an IPO.

If approved and completed, the trio will join a growing list of crypto firms that have intertwined themselves with public markets or are considering the path, following the successful IPOs of stablecoin issuer Circle and crypto exchange eToro. 

BitGo, which holds more than $100 billion in assets on its platform according to its website, has been expanding its digital assets services this year. The firm earned approval to offer those services across the European Union in May when it received its Markets in Crypto-Assets (MiCA) license, the EU’s comprehensive legal framework for crypto assets, from Germany’s Federal Financial Supervisory Authority, BaFin. 

BitGo has also been present as the United States leans into crypto under President Donald Trump, participating in a panel entitled “Safeguarding America’s Bitcoin” in March and the SEC’s Crypto Custody roundtable in April. 

A representative for BitGo did not immediately respond to Decrypt’s request for comment.