Digital asset custodian BitGo has filed paperwork to pursue an initial public offering (IPO) in the United States, highlighting the crypto industrys continued push toward mainstream financial markets.On Monday, BitGo announced it had confidentially submitted a draft registration statement on Form S-1 to the Securities and Exchange Commission (SEC) for a proposed IPO of its Class A common stock.
At the time of filing, no determination was made on the number of shares or price range of the stock offering.As of publication, the registration statement had not yet appeared on the SECs EDGAR database.BitGo is one of the crypto industrys largest custodians, with assets under custody surpassing $100 billion in the first half of 2025, up from $60 billion at the start of the year, according to Bloomberg.The IPO comes as BitGo seeks to expand its presence overseas, with the company recently securing regulatory approval in the European Union under the Markets in Crypto-Assets (MiCA) framework.
As reported by Cointelegraph, the approval extends BitGos digital asset services across the EU.In addition to securing licensing in the European Union, BitGo is reportedly looking to expand its presence in traditional US markets.
In May, the company was said to be among a small group of major crypto firms pursuing a US bank charter, pending key regulatory developments.Related: US Federal agencies outline key risks for banks eyeing crypto custodyBitGo is looking to join the expanding ranks of publicly traded digital asset firms.
According to CoinGecko, there are currently 46 noteworthy publicly traded blockchain companies defined as non-penny stocks.Of these, 24 are listed on the Nasdaq, 18 trade over-the-counter, two are on the New York Stock Exchange and one is listed on the Toronto Stock Exchange.The distribution of notable public blockchain companies as of February 2025.
Source: CoinGeckoSeveral digital asset companies are pursuing public listings.
Last week, crypto exchange Bullish filed for an IPO with the SEC, aiming for a listing on the New York Stock Exchange.
The company reported a net income of approximately $80 million for fiscal year 2024.Meanwhile, crypto asset manager Grayscale is also seeking a US stock market debut, having submitted its filing to the SEC earlier this month.Magazine: Crypto wanted to overthrow banks, now its becoming them in stablecoin fight