Crypto custodian BitGo is considering an initial public offering (IPO) in 2025, driven by growing institutional trust and rising assets under custody.
Growth of BitGo's Assets
According to Abel Seow, BitGo's Asia-Pacific managing director, the company's assets under custody jumped from $60 billion to $100 billion in the first half of 2025. Seow attributed the 67% increase to rising global crypto adoption and improving regulatory clarity.
Strategic Expansion of the Company
As of the first half of 2025, half of BitGo's holdings were in staking, a process where users pledge tokens to aid in the validation of blockchain transactions. Founded in 2013, the company oversees custody as well as trading, lending, and borrowing for institutional clients. In 2023, BitGo raised $100 million in a Series C fundraising round at a $1.75 billion valuation.
IPO Prospects
An IPO for BitGo would be a significant milestone for the company, joining other cryptocurrency firms looking to go public. The U.S. president supports cryptocurrency initiatives, creating a favorable environment. BitGo is also expanding its international presence, including joint ventures in South Korea and the recent launch of operations in Dubai.
With rising assets and strategic international expansion, BitGo's IPO could represent an important event for both the company and the broader crypto industry.
