BitGo is targeting an IPO in the US and seeking up to US$201 million in funding on Wall Street.

• BitGo's IPO strengthens institutional custody of cryptocurrencies.
• Wall Street seeks crypto exposure without the risk of volatility.
• Regulated custody is gaining ground in capital markets.

BitGo, one of the leading cryptocurrency custody companies in the institutional market, has taken a significant step towards... in the United States. The operation aims to raise up to US$201 million and marks the company's formal entry into Wall Street, a move that reflects the maturation of cryptocurrency infrastructure within the traditional financial system.

Unlike exchanges or brokerage firms, BitGo's operations are focused on the operational base of the institutional market. The company is responsible for the secure safekeeping of digital assets, support for regulatory requirements, and the provision of settlement infrastructure. This model allows it to serve funds, asset managers, and platforms that need to operate with cryptocurrencies without directly assuming the market risk associated with price fluctuations.

Currently, BitGo already provides custody services for stock exchanges, funds, and asset managers, in addition to offering support for regulated products such as ETFs and fiduciary structures. This positions the company strategically in a segment that prioritizes security, compliance, and operational predictability—elements increasingly valued by institutional investors.

The decision to pursue an IPO signals more than just raising capital. By opting for public markets, BitGo submits itself to audit scrutiny, detailed revenue disclosure, and stricter governance standards. For Wall Street, this process serves as an additional seal of credibility and long-term viability.

Another point that attracts investors' attention is the revenue profile of cryptocurrency custody. Unlike brokerages, whose revenue depends heavily on trading volume, custody generates recurring income based on fees applied to the assets held. This model tends to offer greater financial predictability, something aligned with the expectations of the capital market.

Furthermore, the potential public listing of BitGo reinforces the integration of cryptocurrency infrastructure into traditional US markets. This move increases pressure on competitors that still operate privately or under less consolidated regulatory structures, while simultaneously expanding options for exposure to the sector without having to directly deal with price volatility.

In recent months, capital flows have favored companies focused on compliance, custody, and settlement, at the expense of more speculative products. In this context, custody stands out as one of the few segments where regulation, institutional demand, and revenue generation move in the same direction, making BitGo's potential IPO a milestone for the consolidation of this model in the United States' public markets.