BitGo Steps Into Wall Street: Plans to Raise $201M in U.S IPO

Crypto custody just stepped into the spotlight. While price action grabs most of the headlines, custody is where institutions decide whether crypto is actually usable at scale. BitGo heading toward public markets signals that Wall Street interest is shifting away from speculation and toward control and compliance.

Unlike exchanges or brokerages, custodians sit at the center of institutional crypto operations. Moreover, they manage asset security, regulatory reporting, and settlement infrastructure without taking market risk themselves.

BitGo already provides custody services to exchanges, funds, and asset managers, including support for regulated products like ETFs and trust structures.

Therefore, a public listing would formalize that role, positioning custody as a core financial service rather than a crypto-native experiment.

Why Wall Street Cares

An IPO attempt sends a different signal than private fundraising. It puts revenue visibility, compliance posture, and long-term viability under public audit.

Furthermore, crypto custody offers predictable fee-based income tied to assets under custody rather than volume. Which is something trading firms can’t offer Wall Street.

Additionally, BitGo’s IPO would reinforce the idea that crypto infrastructure can fit inside existing capital markets rather than sitting outside them. While also raising pressure on competitors still operating purely in private markets or under looser regulatory structures.

Essentially building exposure to crypto without touching volatility directly.

Shift Toward Regulated Crypto Infrastructure

Over the past year, capital flowed steadily toward firms providing compliance tooling, custody, and settlement rather than speculative products. Moreover, regulators may still debate crypto’s edges, but institutional players are slowly taking over the aspects that make the system work.

Indeed, custody is one of the few areas where regulation, demand, and revenue align.

If the IPO proceeds, it could become a benchmark for how crypto-native infrastructure integrates with U.S. public markets. A development not rooted in noise but on structure.

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