BitGo Files for IPO: Crypto Custodian Targets $2 Billion Valuation in Market Comeback

Wall Street meets crypto custody—BitGo just dropped its IPO paperwork.

The move signals institutional confidence returning to digital assets after the regulatory shakeout. With a target valuation pushing $2 billion, they're not just dipping a toe back in—they're diving headfirst.

Why This IPO Matters Now

Forget the crypto winter chatter. A major player filing now suggests the thaw is real. It’s a bet that traditional finance is finally ready to play ball with digital assets, provided someone trustworthy holds the keys.

The Custody Game-Changer

BitGo’s play isn't about trading or DeFi yields. It’s the boring, essential plumbing—secure storage for billions in institutional capital. That’s the infrastructure Wall Street actually cares about. Their tech bypasses the old, clunky systems that traditional banks are stuck with.

The $2 billion figure isn't pulled from thin air. It’s a statement. It tells the market that crypto’s foundational services are maturing into standalone, valuable businesses—not just speculative tokens.

The Bottom Line

This IPO could be the canary in the coal mine for a broader crypto finance revival. Or, just another finance-sector spectacle where the bankers collect their fees regardless of the stock’s performance post-launch. Either way, the game is changing.

Market conditions improving

The company’s plans come as the market for new stock sales picked up steam in 2025 following nearly three years of limited activity. But hopes for a bigger comeback hit roadblocks due to swings in the market caused by tariff concerns, a lengthy shutdown of federal operations, and a sharp drop in artificial intelligence stock prices late in the year.

Market watchers think the trend of companies going public will keep improving in 2026. Several other cryptocurrency and financial technology businesses have said they plan to sell shares, including British digital bank Revolut, crypto trading platform Kraken, and Japanese payment service PayPay.

Kraken quietly filed paperwork in November for a US stock offering. Last year, stablecoin company Circle and crypto exchange Bullish both launched their shares. But the digital currency sector has hit rough waters recently. A major selloff in October 2025 has made it harder for crypto companies to win over investors.

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