BitGo, the digital asset custodian, is planning a debut in the public markets as the next leg of its operations strategy for the year. The California-headquartered company has submitted a draft statement outlining its Initial Public Offering (IPO) plans to the U.S. Securities and Exchange Commission (SEC).
In an announcement shared on Monday, July 21, BitGo said that its Form S-1 filing with the SEC regarding its IPO plans is confidential. Its statement, did however, noted that it is yet to determine the price and number of shares it plans to offer.
The SEC will now proceed to analyze and review the filing and decide on approving its plans depending on key factors including the market conditions.
BitGo was founded by former Google software engineers — Mike Belshe and Ben Davenport in 2013 — just four years after the first Bitcoin was minted in 2009 by its anonymous founder, popular by the pseudo name Satoshi Nakamoto. As the crypto market evolved into its present mammoth state valuing $4 trillion, the company emerged among veteran firms in the sector.
BitGo claims that it has pioneered the multi-signature wallet technology and that it presently processes eight percent of all global BTC transactions by value. According to information on its official website, it offers crypto custody services in over 90 nations.
According to data by Tracxn, the valuation of the Goldman Sachs-backed company stands at $1.75 billion after completing seven funding rounds. The firm’s assets under custody soared past $100 billion in the first half of 2025, clocking a notable rise from $60 billion at the year’s start.
Its IPO plans indicate the launch of Class A common stock which would grant voting rights to its holders. Superior voting rights in Class A common stock, however, are retained by the founders and management of the entity. Elaborate details on BitGo’s IPO remain awaited for now.
Meanwhile, owing to the evolving regulatory landscape around crypto under President Donald Trump in the U.S., multiple crypto firms have stepped into the arena of public markets in recent times.
Circle, the issuer of the USDC stablecoin for instance, debuted on the New York Stock Exchange (NYSE) in June this year. Israeli crypto firm eToro and crypto-focused investment firm Galaxy also went public earlier this year.
Alongside BitGo, other crypto companies that have submitted IPO-related filings with the SEC include Grayscale Investments and Gemini digital assets exchange among others.