Unicorn crypto custodian BitGo eyes Q2 IPO

Bitgo, a crypto goalkeeper based in Palo Alto, plans to make public in the second quarter of 2025, more than two years after a gust of acquisition of Galaxy Digital.

Bitgo, an American crypto goalkeeper worth $ 1.75 billion, intends to launch a first public offer and become a public before the second quarter of 2025, Bloomberg reported citing sources of initiate.

Previously, the California -based cabinet had negotiated an acquisition with Galaxy Digital from Mike Novogratz as a way to the public. However, the agreement collapsed in August 2022, with Galaxy Digital citing the Bitgo failure to deliver an audited assessment.

Despite the setback, Bitgo rebounded in 2023, raising $ 100 million in a financing cycle of the C series. The increase was considered significant at the time, given the wave of crypto collapses in 2022, especially FTX and three capital arrows.

After the T round of series C, Bitgo’s evaluation reached $ 1.75 billion, exceeding the $ 1.2 billion assessment linked to the defaulting Galaxy digital agreement. Funding has also marked the first increase in Bitgo capital since 2017.

Several companies have declared the IPO in recent months. Circle moving Its global base in New York anticipating a public offer. Etoro has target A market assessment of $ 5 billion via the US IPO. The trend was confirmed by the chief of the enumeration of Nyse, Chris Taylor, at the end of January. Taylor expect A wave of deposits in the IPO in 2025.