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BitGo filed a registration statement for an initial public offering of $200 million on the New York Stock Exchange.
Investors prefer blockchain infrastructure companies compliant with regulations, as traditional finance expands into digital assets.
BitGo, a leading digital asset custody company, plans to go public in the U.S. market. The company aims to list on the New York Stock Exchange (NYSE) and raise approximately $200 million USD with support from major banks such as Goldman Sachs and Citigroup.
BitGo is known for its premium cryptocurrency custody services and was founded in 2013. Its core mission is to store cryptocurrencies for institutions and protect their assets using a highly secure and organized infrastructure. The company primarily focuses on security and compliance with regulations and laws. As more traditional institutions enter the cryptocurrency space, the value of cryptocurrency custody companies like BitGo is rising.
The main factors behind BitGo's pursuit of an IPO
The four main reasons behind BitGo's pursuit of an IPO are:
Increased institutional demand – large companies are buying more cryptocurrencies and need a safer place to store them.
Increase in secure cryptocurrency companies – after the collapse of cryptocurrency prices, people trust the security and custody of cryptocurrencies and regulatory frameworks more than trading platforms.
Momentum from other cryptocurrency IPOs – the recent listing of companies like Circle shows that cryptocurrency firms are increasingly entering public markets.
The public offering market is gradually recovering – the IPO market was weak after the collapse of cryptocurrencies, and it is now slowly regaining momentum. Investors are now avoiding media hype and choosing companies with real customers and revenue. BitGo is already established and has institutional clients around the world.
This indicates growing confidence in the organized infrastructure for cryptocurrencies and shows Wall Street's interest in cryptocurrency custody instead of speculation. Specialized companies like BitGo are the cornerstone of this shift. Although markets remain cautious, BitGo's IPO suggests that investors are still willing to support essential and organized cryptocurrency services.
If BitGo's IPO succeeds, more cryptocurrency infrastructure companies will go public, and regulators will feel more comfortable about the long-term stability of cryptocurrencies. Institutions will increasingly adopt them, and cryptocurrencies will become more stable.$BTC
