Hassan Maishera
TL;DR
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BitGo has filed for an initial public offering in the United States.
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More crypto companies are looking to go public as retail and institutional adoption soars.
BitGo Files to List in the U.S.
Crypto custody firm BitGo has filed for an initial public offering (IPO) in the United States. This latest development comes as an increasing number of crypto companies are listing on stock exchanges.
BitGo has been around since 2013. The company secures digital assets for institutional clients including exchanges, banks, and investment firms. BitGo is currently one of the largest cryptocurrency custodians in the United States. It is also one of the most important companies in the crypto ecosystem as its role as a behind-the-scenes vault has become crucial thanks to the rising adoption by institutional investors.
Cryptocurrency companies are going public as adoption continues to grow. In June, stablecoin issuer Circle went public and currently trades under the ticker (CRCL). The company’s shares have soared more than 630% since their listing, thanks to the institutional adoption of its USDC stablecoin. In May, social trading platform eToro also went public, with a $4.2 billion valuation.
The regulatory clarity in the United States is prompting more companies to go public. The U.S. Senate last week passed the GENIUS Act to regulate the stablecoin market in the country.
More crypto firms will go public over the next few months. Crypto asset manager Grayscale revealed that it had filed for an IPO while Gemini and Bullish exchange have announced plans to go public in the United States.
