BitGo, a US-based cryptocurrency custody firm established in 2013, has filed for an Initial Public Offering (IPO) in the United States. This move follows a trend among crypto firms seeking to go public and capitalize on market momentum.

Earlier this week, US President Donald Trump signed a bill aimed at establishing regulatory guidelines for stablecoins. The new regulations could enable USD-pegged assets to become more widely used as everyday methods of transferring and moving funds.

According to BitGo, the current market conditions, including Bitcoin’s rise to over $120,000, make it an opportune time for their IPO. The company acknowledges that volatile environments like crypto could see unexpected changes in IPO conditions, but they aim to leverage favorable circumstances.

Market Conditions and Valuation

In 2023, BitGo secured USD 100 million in funding, valuing the firm at $1.75 billion. These market developments contribute to the broader interest in crypto IPOs within the US.

Other Recent IPOs in the Crypto Sector

The crypto sector’s value in the United States has surged to over USD 4 trillion, prompting increased interest in IPOs. With proper regulation and corporate treasury adoption, the industry is experiencing a wave of listings. Companies like asset manager Grayscale and digital asset exchange Gemini are also considering going public.

Circle, another stablecoin issuer, completed its IPO this year, raising USD 1.1 billion. This offering valued Circle at approximately $6.9 billion based on outstanding shares, with a fully diluted valuation of around $8.1 billion estimated after accounting for options, restricted units, and warrants.

Bullish, a crypto exchange, has also recently revealed plans to go public, applying to list its ordinary shares on the New York Stock Exchange under the ticker symbol BLSH.” However, there is no assurance regarding the completion of this offering due to market conditions.