BitGo Joins Wall Street’s Crypto Movement – More Firms Expected to Follow

• BitGo is considering an IPO after raising $100 million in 2023, which brought its valuation to $1.75 billion.
• Gemini, Circle, and Kraken are also rethinking their IPO strategies.
• President Trump’s pro-crypto policies have created a more favorable environment for crypto firms.

BitGo, a leading U.S. crypto custodian, is evaluating an initial public offering (IPO) as part of a growing wave of crypto companies preparing to go public.

Alongside BitGo, other crypto companies are rethinking their IPO plans, reflecting the crypto sector’s rising optimism and Wall Street’s increased interest in digital assets.

BitGo To Launch IPO In 2025

BitGo is considering an IPO and joining a wave of crypto companies hoping for more regulatory support. According to sources, the Palo Alto-based firm is in talks with advisers for a potential listing in the second half of this year.

In 2023, BitGo raised $100 million at a $1.75 billion valuation, with backers including Goldman Sachs, DRW Holdings, and Valor Equity Partners. The company has not made a final decision, and a spokesperson declined to comment.

Founded in 2013, BitGo is one of the largest U.S. crypto custodians, offering trading, borrowing, and lending services. It serves over 1,500 institutional clients and processes around 8% of global Bitcoin transactions.

In 2021, Galaxy Digital attempted to acquire BitGo for $1.2 billion but later canceled the deal.

Wall Street Banks Court Crypto Companies

After years of hesitation, Wall Street is eager to enter the crypto market as the U.S., under President Trump’s pro-crypto policies, becomes more favorable for digital assets.

The Biden administration’s restrictions had kept financial institutions cautious. Still, optimism is rising, and major players like Bank of America and Morgan Stanley are considering partnerships with crypto firms or direct investments.

Morgan Stanley, which previously had limited exposure, is now looking for crypto IPO opportunities. Bank of America is exploring offering banking services to crypto firms, and the Royal Bank of Canada is also expanding its crypto presence.

As Wall Street and crypto firms prepare for IPOs, the crypto market is poised for continued growth thanks to the evolving political and regulatory landscape.

Who Will Follow?

Crypto companies like Gemini, Circle, and Kraken are rethinking their IPO plans, with confidence growing due to Trump’s pro-crypto policies.

After years of regulatory uncertainty, the crypto IPO window is wide open. Rising prices and the first pro-crypto president are fueling this sentiment.

Gemini , which delayed its IPO after the FTX collapse, is reportedly considering one in 2025. Circle, the largest stablecoin issuer, filed for an IPO in 2024. Kraken, initially aiming for a 2022 IPO, is seeking funds for a potential offering.

Other firms like Digital Currency Group and Consensys are also strong IPO candidates. Various industry players are predicting a wave of crypto listings in 2025.