BitGo Considers IPO in Second Half of 2025 Amid Crypto Market Surge

Palo Alto-based cryptocurrency custodian BitGo is considering an initial public offering (IPO) that could occur as soon as the second half of 2025, according to a Bloomberg report on February 11. The company is reportedly in discussions with investment banks to advise on the potential IPO. BitGo, known as the custodian for wrapped Bitcoin (wBTC), which had a market capitalization of approximately $12 billion as of February 11, raised $100 million in 2023 at a $1.75 billion valuation, with backers including Goldman Sachs and DRW Holdings. This move comes amid a surge in public markets for crypto firms, potentially influenced by expectations surrounding a crypto-friendly US administration, with Coinbase's stock (COIN) up roughly 40% since November 5.