{"id":9056,"date":"2025-07-23T13:20:50","date_gmt":"2025-07-23T10:20:50","guid":{"rendered":"https:\/\/handoli.com\/index.php\/2025\/07\/23\/crypto-custody-startup-bitgo-files-confidentially-to-go-public\/"},"modified":"2025-07-23T13:20:50","modified_gmt":"2025-07-23T10:20:50","slug":"crypto-custody-startup-bitgo-files-confidentially-to-go-public","status":"publish","type":"post","link":"https:\/\/handoli.com\/index.php\/2025\/07\/23\/crypto-custody-startup-bitgo-files-confidentially-to-go-public\/","title":{"rendered":"Crypto Custody Startup BitGo Files Confidentially To Go Public"},"content":{"rendered":"

Crypto custody startup BitGo<\/a> filed confidentially<\/a> to go public on Tuesday, the company said.<\/p>\n

It is not yet clear on which exchange Bitgo plans to offer its shares, or what its price range will be.<\/p>\n

Founded in 2013, Palo Alto, California-based BitGo has raised a known $170 million in funding, per Crunchbase data<\/a>. The company aims to securely store and manage cryptocurrency and other digital assets<\/p>\n

In August 2023, BitGo raised a $100 million Series C<\/a> round at a $1.75 billion valuation. It was a step up in valuation from what BitGo would have been valued at had it been acquired by digital asset investment firm Galaxy Digital<\/a> in a proposed $1.2 billion acquisition<\/a> that was called off in 2022.<\/p>\n

The company went on to raise another corporate round of funding<\/a> in January 2024 for an undisclosed amount, according to Crunchbase data.<\/p>\n

Bitcoin prices soared to over $100,000 in 2024, and currently trades at nearly $119,000<\/a> with projections it could go even higher in 2025. And after many headlines about regulation in the industry, the U.S. passed<\/a> what is being described as the country\u2019s \u201cfirst major national cryptocurrency legislation.\u201d The legislation is expected to be signed into law later this week.<\/p>\n

A thawing IPO pipeline?<\/h2>\n

After an IPO drought, we\u2019re seeing a flurry of filings in 2025, with more potentially planned in the coming year. Cryptocurrency exchange Kraken<\/a> is expected to go public via an initial public offering sometime in early 2026.<\/p>\n

San Francisco-based collaborative design platform Figma<\/a> on Monday outlined the plans of its IPO, revealing it intends to raise<\/a> nearly $1 billion.<\/p>\n

But other fintech and crypto-related companies have already gone public so far in 2025.<\/p>\n

In early June, shares of Circle<\/a> closed up 168%<\/a> at $83.29 in their first day of trading on the New York Stock Exchange,<\/a> minting the stablecoin issuer with a market cap of around $16.7 billion and renewing hopes for an IPO market rebound. As of July 22, the stock had more than doubled from its first-day closing \u2014 trading at over $194 per share.<\/p>\n

Digital bank Chime<\/a> went public on June 12, and came out swinging. Chime\u2019s shares shot up 37% in first-day trading<\/a> on Nasdaq<\/a>, closing at $37. As of July 22, the stock was trading at just over $33.<\/p>\n

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