PANews reported on February 12 that according to Bloomberg, the US crypto custody company BitGo is considering an initial public offering (IPO) as early as the second half of 2025 and is currently in talks with potential advisors. BitGo completed a $100 million financing in 2023, with a valuation of $1.75 billion. Investors include Goldman Sachs, DRW Holdings, Redpoint Ventures and Valor Equity Partners. The company provides crypto asset custody, trading, lending and other services to more than 1,500 institutional clients in more than 50 countries around the world, and handles about 8% of the world's Bitcoin trading volume.
The IPO plan comes at a time when the US government has turned supportive of the crypto industry, and many crypto companies such as Gemini, Bullish Global, Circle and Kraken are also preparing to go public. In addition, BitGo CEO Mike Belshe provided support for Trump's campaign fundraising in July 2024.
