The crypto custody provider BitGo has filed for a U.S. initial public offering in a confidential manner to capitalize on the renewed investor interest in digital assets. The crypto market has experienced a significant recovery as Bitcoin reached $120,000 and the total market capitalization reached $4 trillion. The BitGo filing joins other crypto companies such as Grayscale and Gemini that are planning to go public. BitGo was established in 2013 and received $100 million in funding in 2023 at a $1.75 billion valuation. The company offers secure storage solutions and regulatory-compliant services to institutional investors. The company did not reveal any information about the IPO terms. The market has gained momentum due to increasing institutional investment and the introduction of a new U.S. stablecoin law and improved policy transparency.
