BitGo IPO: Confidential S-1 Filing Highlights $70B Custody
BitGo IPO is poised to reshape the crypto custody sector as the Palo Alto‐based firm files a confidential S-1 registration with the SEC. Founded in 2013 by Mike Belshe and Ben Davenport, BitGo now holds over $70 billion in assets under custody, including Bitcoin (BTC) and Ethereum (ETH).
Major banks Morgan Stanley and Goldman Sachs are lined up to underwrite the Nasdaq offering. If approved, this will be the first public listing by a leading US crypto custody provider, reflecting growing institutional investors’ demand for secure digital asset management.
BitGo’s platform offers offline cold storage, multi-signature wallets and insurance coverage for hedge funds, family offices and corporate treasuries. Recent funding rounds valued the company at $1.75 billion, backed by Galaxy Digital, Goldman Sachs, Valor Equity Partners and Institutional Venture Partners.
The BitGo IPO comes amid a favorable market backdrop, with Bitcoin and Ethereum rallying over 25% year-to-date and clearer regulatory frameworks such as the GENIUS Act. Traders should monitor how the BitGo IPO influences custody valuations, sets a benchmark for compliance, and impacts broader market sentiment.
Bullish
The BitGo IPO filing signals strong institutional confidence in regulated crypto custody, which is likely to boost market sentiment in both the short and long term. In the near term, approval and underwriter backing by Morgan Stanley and Goldman Sachs should spur positive trading momentum for Bitcoin and Ethereum as traders anticipate further institutional inflows. Over the long term, a successful public listing will establish a compliance benchmark for custody providers, enhance trust in digital asset security, and encourage more corporate treasuries to allocate funds to crypto, reinforcing a sustained bullish trend.