BitGo, a US-based cryptocurrency custody firm founded in 2013, has filed for an IPO (initial public offering) in the United States. This move aligns with other crypto firms seeking to go public and capitalize on market momentum.

A week ago, US President Donald Trump signed a bill aimed at creating a regulatory framework for stablecoins, allowing these USD-pegged assets to be used more frequently in everyday transactions.

According to BitGo, the current conditions of the market and Bitcoin reaching a value of $120,000 make it an opportune time for an IPO. The company acknowledges that such market conditions can shift unexpectedly, especially in the volatile crypto space, and wants to take advantage of this favorable moment.

BitGo’s Background

BitGo, established in 2013, is known for storing and safeguarding digital assets on behalf of its clients. In 2023, the firm raised $100 million and was valued at $1.75 billion at that time.

Other Recent IPOs in the Crypto Sector

The rise in the US crypto market to a value of $4 trillion has sparked interest in more IPOs. Proper regulations, corporate treasury adoption, and industry inflows have driven this trend. Companies like Grayscale, a large asset manager, and Gemini, a digital asset exchange firm, are also considering confidential filings for public listings.

Circle, the stablecoin issuer, completed its IPO this year, raising $1.1 billion, which valued the company at approximately $6.9 billion based on outstanding shares, with an estimated fully diluted valuation of about $8.1 billion.

Bullish, a crypto exchange, has also announced plans to go public and is seeking to list its ordinary shares on the New York Stock Exchange under the ticker symbol BLSH.” The listing depends on market conditions, and there’s no guarantee when or if the offering will be completed.