BitGo, the leading cryptocurrency custody and settlement company in the US, is considering an initial public offering (IPO) in the second half of 2025. The move comes as the US government is taking more open steps towards crypto regulation, creating great opportunities for companies in this field to expand their operations.

Strategic Moves in Favorable Context

#BitGo is currently in discussions with investment banks to prepare for an IPO, although no final decisions have been made. If successful, it would be one of the largest IPOs in the cryptocurrency space, putting BitGo in direct competition with Coinbase and traditional financial firms such as Fidelity Digital Assets and Fireblocks.

The move not only reflects BitGo’s confidence but also shows that the listing wave is getting stronger in the crypto industry, especially under President Donald Trump, when cryptocurrency regulations are being considered in a more market-friendly direction.

BitGo – The “Giant” In Crypto Custody

BitGo was founded in Palo Alto, California, and is now one of the largest crypto custody and settlement providers in the US, serving more than 1,500 institutional clients in over 50 countries, including hedge funds and cryptocurrency exchanges. According to data from its official website, BitGo processes about 8% of the total global Bitcoin transaction value, affirming its important position in this industry.

The company was also the primary custodian of Wrapped Bitcoin (#WBTC ) – a version of Bitcoin issued on Ethereum and many other blockchain ecosystems. However, in mid-2024, BitGo handed over custody of wBTC to BiT Global, a venture linked to Justin Sun, causing controversy in the DeFi community.

Financial Strength and Backing from the Big Guys

BitGo is showing strong growth as in 2023, the company raised $100 million in a Series C funding round at a valuation of $1.75 billion. Notably, this funding round had the participation of big names in the financial industry such as:

  • Goldman Sachs – Wall Street financial giant.

  • DRW Holdings – Large trading and investment company in the US.

  • Redpoint Ventures and Valor Equity Partners – Top Venture Capital Funds.

This shows that BitGo is not only strong in technology but also has a solid financial foundation and extensive relationships with Wall Street giants.

Political Connections and Advantages from Current Government

BitGo is not just a financial technology company, but also has notable connections in American politics. BitGo CEO Mike Belshe hosted a fundraising event for President Donald Trump's campaign in July 2024, which was attended by Vice President JD Vance.

This gives BitGo a huge advantage as the government $TRUMP is making positive moves in building a crypto-friendly legal framework, including plans to establish a national Bitcoin reserve fund.

Challenges and Competition in the Industry

However, BitGo will face fierce competition from industry rivals. Previously, many large crypto companies such as Gemini, Kraken, Circle and Bullish Global have also considered #IPO but none of them have completed the listing process.

In addition, BitGo had planned to go public in 2021 when it reached a merger agreement with Galaxy Digital – a crypto company of billionaire Michael Novogratz with a valuation of $ 1.2 billion. However, the deal fell through in 2022 because BitGo failed to provide audited financial statements.

Conclude

BitGo’s IPO plans are attracting a lot of attention from investors and the crypto industry. If successful, BitGo will not only affirm its leading position in the crypto custody field but also open a new wave of IPOs for other crypto companies in the US.

This would be a huge turning point for BitGo and the entire crypto industry, especially as the US government is becoming more open to cryptocurrency regulations.

Risk Warning

Investing in cryptocurrency involves a high level of risk and is not suitable for all investors. The value of Bitcoin, Ethereum and other digital assets can fluctuate greatly in short periods of time. Investors should consider carefully and only use capital that they can afford to lose completely before participating.

Note: This article is for informational purposes only and is not investment advice.