Digital asset custodian BitGo has filed paperwork to pursue an initial public offering (IPO) in the United States, highlighting the crypto industry’s continued push toward mainstream financial markets.
On Monday, BitGo announced it had confidentially submitted a draft registration statement on Form S-1 to the Securities and Exchange Commission (SEC) for a proposed IPO of its Class A common stock. At the time of filing, no determination was made on the number of shares or price range.
As of publication, the registration statement had not yet appeared on the SEC’s EDGAR database.
BitGo is among the crypto industry’s largest custodians, with assets under custody surpassing $100 billion during the first half of 2025, up from approximately $60 billion at the beginning of the year, according to Bloomberg data.
The planned IPO occurs alongside BitGo’s broad expansion overseas and its ambitions to secure a stronger foothold in the United States.
Earlier this year, the company secured regulatory approval in the European Union under the Markets in Crypto-Assets (MiCA) framework. This approval extends BitGo’s digital asset services across the EU, according to prior reporting.
Simultaneously, BitGo has reportedly aimed to expand its presence in traditional US financial markets. In May, the company was among a select few major crypto firms seeking a US bank charter.
Related: US Federal Agencies Outline Key Risks for Banks Eyeing Crypto Custody
BitGo Aims for Spot Among Digital Asset Stocks
BitGo is seeking to become one of the first-tier publicly traded digital asset firms. According to research platform CoinGecko, there are currently 46 “noteworthy” publicly traded blockchain companies — defined as non-penny stocks.
Of these, 24 are listed on the Nasdaq, 18 trade over-the-counter, two are on the New York Stock Exchange, and one is listed on the Toronto Stock Exchange.
Another digital asset entity recently entered the public offering process, with crypto exchange Bullish filing with the SEC for an IPO targeting the New York Stock Exchange. The company reported net income of ~$80 million for fiscal year 2024.
Crypto asset manager Grayscale also filed with the SEC this month for a de novo US bank charter and its own stock market debut.
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