BitGo Seeks $200 Million NYSE IPO Amid Growing Demand for Crypto Custody

BitGo, a provider of cryptocurrency custody solutions, has announced its plans to file for an initial public offering (IPO) in the United States, aiming to raise $200 million. This move comes as demand for institutional crypto custody rises, even in a turbulent market following 2025.

Key Takeaways

BitGo is seeking $200 million through an IPO on the New York Stock Exchange.
Founded in 2013, the company specializes in storing and securing digital assets for institutional clients.
The IPO is aimed at strengthening BitGo's position as interest in cryptocurrency continues to grow among traditional financial institutions.
BitGo joins a list of crypto companies looking to go public, including Circle and Bullish.
Market conditions remain mixed, but IPO activity is expected to recover as the year progresses.

BitGo files $200m NYSE IPO amid rising crypto custody demand

Overview of BitGo's IPO Plans

BitGo, based in Palo Alto, California, has taken steps to file for a U.S. IPO with an anticipated raise of $200 million, as indicated in regulatory documents. The offering is backed by major investment firms, Goldman Sachs and Citigroup, and aims to list on the New York Stock Exchange.

Since its inception in 2013, BitGo has emerged as a leader in providing security and storage solutions tailored for institutional digital assets. Its services have become increasingly crucial as traditional financial institutions ramp up their engagement in the cryptocurrency marketplace.

The impending IPO reflects the rising trend of cryptocurrency companies opting for public listings. Notable recent offerings include those of Circle, a stablecoin issuer, and Bullish, a cryptocurrency exchange. Additionally, Kraken—the well-known crypto exchange—has also made public its intentions to launch an IPO.

Market Context and Future Outlook

The BitGo offering arrives during a period of intensified scrutiny of the cryptocurrency sector, which suffered a significant downturn in October. According to market analysts, a general retraction in technology and AI valuations has redirected investor capital towards more stable and regulated sectors.

Although the IPO market demonstrated signs of recovery in 2025, the outlook remains cloudy, influenced by ongoing tariff fluctuations, shifts in government policy, and the recent decline in tech stocks.

BitGo's custody services are designed to meet the growing institutional need for secure digital asset storage, particularly as banks and asset managers explore blockchain technologies and cryptocurrency investments.

As the market evolves, BitGo's public listing will be an essential development for both the company and the broader cryptocurrency landscape.