Crypto Firm BitGo Prepares For Public Listing, Submits Confidential IPO Filing To SEC

BitGo Holdings said Monday it has confidentially filed a draft registration statement with the Securities and Exchange Commission for a proposed initial public offering of its Class A common stock.

The digital asset custody and security firm did not disclose the number of shares it plans to offer or the price range for the IPO. The offering is expected to occur following the SEC’s review, subject to market and other conditions. BitGo was last valued at $1.75 billion during its Series C funding round in August 2023. 

The news comes after the cryptocurrency market’s valuation surged to more than $4 trillion after weekend trading. While Bitcoin’s (BTC) gains were muted on Monday morning, altcoins were rallying. 

Bitcoin’s price edged 0.4% higher in the last 24 hours as Dogecoin (DOGE) led the rally among major altcoins. Dogecoin’s price climbed 7.6% over the past day, followed by Cardano (ADA) and Solana (SOL), with gains of 7.2% and 5.5%, respectively.

On Stockwits, retail sentiment around Bitcoin dipped to ‘neutral’ territory from ‘bullish’ a day ago. Meanwhile, retail sentiment around Dogecoin moved higher within the ‘extremely bullish’ zone.

BitGo’s plan to potentially go public comes after Circle’s (CRCL) successful IPO in June, after which its shares surged over 300%. On Monday, Circle’s stock was holding onto gains of 230% since launching.

Crypto exchanges Gemini and Bithumb are also pursuing IPOs. 

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