What happened?
Crypto custody company BitGo has filed for a US IPO with Citigroup and Goldman Sachs, signaling increased institutional adoption of cryptocurrencies. BitGo currently manages $90.3 billion in assets across over 4,600 clients and 1.1 million users. It reported a revenue of $4.19 billion and a profit of $12.6 million in the first half of 2025.
Who does this affect?
The implications of BitGo’s move are significant for its vast user base, which includes both individual investors and institutions. This also affects the broader crypto market, as it signifies an increase in confidence in digital assets amongst traditional financial institutions such as Citigroup and Goldman Sachs.
Why does this matter?
This development is significant as it adds to the wave of pro-crypto corporate moves, indicating increased mainstream acceptance and institutional investment in the space. Such continued support can provide stability and potential growth for the crypto market, ultimately benefiting Bitcoin and other digital assets.