BitGo Considers Public Listing

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American crypto custody platform BitGo is reportedly planning to go public with an initial public offering (IPO) by the second half of 2025, according to Bloomberg, which cited sources familiar with the situation.

The company is currently in discussions with potential advisors for the public listing, although a final decision has not yet been made.

While the California-based custodian has not officially confirmed any details regarding the IPO, it is recognized as a crypto unicorn. BitGo raised $100 million in 2023 at a valuation of $1.75 billion and has backing from notable investors, including Goldman Sachs, DRW Holdings, Redpoint Ventures, and Valor Equity Partners.

In 2021, billionaire Michael Novogratz’s crypto firm, Galaxy Digital, agreed to acquire BitGo for $1.2 billion; however, that deal fell through when Galaxy terminated the acquisition the following year.

BitGo’s CEO, Mike Belshe, has shown support for Donald Trump, having hosted a fundraiser last July featuring the Republican nominee’s running mate, JD Vance. The event had a ticket price of $3,300 per attendee.