BitGo, one of the largest crypto custody services in the US, secretly submitted a draft registration statement on Form S-1 to the SEC on Monday.
The step is intended to pave the way for an initial public offering of Class A common stock once the SEC review is completed and market circumstances permit. The exact number of shares and price range have not yet been determined.
Filing Details
In its press release, BitGo Holdings noted that any offer or sale of its securities will comply with the Securities Act of 1933. The announcement was made per Rule 135 under that Act.
The firm emphasised that this statement does not constitute an offer to sell shares or an invitation to buy them until the registration is effective.
The timing comes as the total value of the crypto market has recently topped $4 trillion, driven largely by Bitcoin’s surge past $120,000. Rising prices and renewed investor optimism have spurred several digital‑asset companies to seek public listings.
Exchanges such as Bullish, Grayscale, and Gemini have all filed confidentially for IPOs. Circle, the issuer of USDC stablecoin, went public in June to positive market feedback.
Also Read: Grayscale Files Confidential S-1 For U.S. IPO Amid Rising Number Of Crypto Companies Going Public
Political Tailwinds
Favourable policy shifts have also pushed industry participants. Last week, President Donald Trump signed the GENIUS Act, the first federal law to set rules for issuing and trading in stablecoins.
He hailed the legislation as a major step toward cementing US leadership in finance and crypto technology. These improvements have given crypto firms like BitGo the confidence to move forward with public offerings.
Earlier this year, BitGo launched an over‑the‑counter trading desk to serve hedge funds and institutional clients.
The desk provides spot and options trading as well as lending for margin positions. This addition reflects growing demand for secure trading infrastructure outside traditional exchanges.
Global Growth Under MiCA
BitGo has also secured regulatory approval under the European Union’s Markets in Crypto‑Assets framework. This endorsement allows the company to extend custody and trading services across EU member states.
The MiCA approval is a key milestone in BitGo’s plan to build a global business footprint beyond its US base.
Many digital‑asset firms are following a similar path. Bullish and other exchanges have cited high liquidity, deep pools of capital, and stronger regulatory clarity as reasons to go public.
BitGo’s confidential filing places it in good company with peers seeking to capitalise on the sector’s momentum and an improving policy backdrop.
What’s Next?
The S‑1 draft will now undergo the SEC’s confidential review. BitGo has said it expects to launch the IPO once the regulator signs off and market conditions are supportive.
Until then, the company will continue to build its institutional client base and refine its product offerings.
Also Read: Grayscale Files Confidential S-1 For U.S. IPO Amid Rising Number Of Crypto Companies Going Public