BitGo IPO: Confidential S-1 Filing Show $70B Custody
BitGo IPO dey ready to change how crypto custody work as di Palo Alto-based company don submit confidential S-1 registration with SEC. BitGo wey Mike Belshe and Ben Davenport start for 2013, now dey hold over $70 billion assets under custody, including Bitcoin (BTC) and Ethereum (ETH). Big banks like Morgan Stanley and Goldman Sachs dey ready to underwrite the Nasdaq offering. If e get green light, dis one go be di first public listing by top US crypto custody provider, show say institutional investors need secure digital asset management more. BitGo platform dey offer offline cold storage, multi-signature wallets, and insurance cover for hedge funds, family offices, and corporate treasuries. Recent funding rounds put di company value for $1.75 billion, backed by Galaxy Digital, Goldman Sachs, Valor Equity Partners and Institutional Venture Partners. BitGo IPO dey come at good market time, as Bitcoin and Ethereum don rally over 25% this year and clearer regulatory frameworks like the GENIUS Act dey. Traders suppose watch how BitGo IPO go affect custody valuations, set benchmark for compliance, and impact wider market feeling.
Bullish
Di BitGo IPO filing dey show say institutional confidence strong for regulated crypto custody, and e go likely boost market feeling both short-term and long-term. For near time, Morgan Stanley and Goldman Sachs approval plus underwriter support go push better trade momentum for Bitcoin and Ethereum as traders dey expect more institutional money to come in. For long run, if dem succeed public listing, e go set compliance standard for custody providers, boost trust for digital asset security, and encourage more corporate treasuries to put money for crypto, wey go help steady bullish movement.