BitGo Files Confidential S-1 for Nasdaq IPO, With $25B AUC and EU MiCA Approval
Custodian BitGo has confidentially filed an S-1 registration with the US SEC, marking the next BitGo IPO set to list on Nasdaq under ticker BGGO. The filing shows BitGo managed $25B in assets under custody last year, generated $235M in revenue (35% year-over-year growth), processed over $2T in transactions, and serves 450+ institutional clients. This follows its surge to over $100B AUC since early 2025 and recent EU MiCA approval, which expands its compliant digital asset custody services across the European Union. This surge underscores growing institutional demand for crypto custody solutions. The planned IPO will raise capital to enhance security, scale product development, invest in compliance, and boost global operations. Analysts view this BitGo IPO as a strong signal of institutional confidence, with BitGo’s valuation set to be benchmarked against peers like Coinbase and Kraken, potentially catalyzing further digital-asset listings and reinforcing momentum in the crypto custody sector.
Bullish
BitGo’s IPO filing signals strong institutional demand for crypto custody solutions, which can boost market confidence and attract more capital into the sector. In the short term, this positive development may support the valuations of custody service providers and related infrastructure tokens, as investors anticipate greater regulatory clarity and adoption. Over the long term, BitGo’s public listing could set a benchmark for other digital-asset firms, encouraging broader institutional participation and driving sustained growth in custody services. The IPO, combined with EU MiCA approval, underscores regulatory progress that may reduce perceived risks, further underpinning market stability. Overall, these factors collectively impart a bullish outlook for BitGo’s market positioning and the wider crypto custody sector.