Cryptocurrency custody firm BitGo is the latest digital asset firm to announce plans to hold an initial public offering (IPO) this year.
Bloomberg News is reporting that BitGo plans to go public in coming months as sentiment towards cryptocurrencies such as Bitcoin (BTC) remains strong.
Early financial backers of BitGo include U.S. investment bank Goldman Sachs (GS), as well as venture capital firms DRW Holdings, Redpoint Ventures and Valor Equity Partners.
The exact date of the IPO has not yet been announced, but the most recent funding round for BitGo in 2023 valued the company at $1.75 billion U.S.
BitGo is the latest crypto firm to announce plans to hold an IPO this year.
Other companies planning to go public include crypto exchanges Gemini, Kraken and Bullish, as well as stablecoin issuer Circle.
The slew of crypto IPOs come as Bitcoin trades near $100,000 U.S. and the administration of U.S. President Donald Trump ushers in a friendlier regulatory environment for digital assets.
Bitcoin, the largest cryptocurrency by market capitalization, is currently trading at $96,300 U.S., having gained 93% over the past 12 months.
