The crypto custody firm BitGo Inc. has witnessed a substantial surge in its assets under custody (AUC), rising from $60 billion to an impressive $100 billion in the first half of 2025. This remarkable 66% increase highlights a growing global appetite for secure and regulated participation in the crypto economy, driven by both institutional and retail interest. Abel Seow, BitGo's managing director for Asia-Pacific, attributed this growth to increasing crypto adoption stemming from greater regulatory clarity across major jurisdictions and what he termed "peak retail interest."

A significant factor contributing to BitGo's escalating AUC is "staking," a process where investors pledge cryptocurrencies to help validate transactions on blockchains, earning more tokens in return. Currently, assets tied to staking account for a remarkable 50% of BitGo’s total holdings, indicating that yield-based strategies are a core investment theme for modern digital asset holders and institutions alike. This milestone signifies not just scale, but a structural shift where institutions are increasingly integrating digital assets into their core portfolios rather than merely experimenting.

Founded in 2013, BitGo has evolved from initially offering secure wallets to becoming a comprehensive "one-stop shop crypto bank." Beyond its core custody services, the firm now provides clients with capabilities to trade, borrow, and lend digital assets, catering to a diverse clientele that includes institutional investors and blockchain-native firms. BitGo's role as a bridge between traditional finance and decentralized systems is further solidified by partnerships such as its involvement with the Hedera Governing Council, which enforces decentralized governance standards.

The firm's rapid international expansion has also played a crucial role in its growth. Recognizing that crypto firms are increasingly looking beyond traditional markets in the US and Europe, BitGo has strategically expanded its global footprint to service local demand, especially in regions with favorable regulation and high smartphone penetration. Notable examples include the launch of BitGo Korea in September 2024, a joint venture with major South Korean financial and telecommunications companies Hana Financial Group and SK Telecom, which is now serving high-net-worth clients and regional institutions. Additionally, BitGo officially established its Dubai operations in early 2025, entering a burgeoning digital asset ecosystem that has become a stronghold for crypto due to its business-friendly regulations.

Riding this wave of growth and increasing industry confidence, BitGo is reportedly preparing for a potential public listing as early as the second half of 2025. This move aligns with a broader trend of crypto-native firms seeking to tap into public markets, buoyed by renewed investor optimism and a more conducive regulatory environment. The shift in the U.S. regulatory approach under the Trump administration, characterized by the appointment of crypto-friendly regulators and a more predictable landscape for crypto companies, has significantly contributed to this favorable climate. BitGo, last valued at $1.75 billion in 2023 during a $100 million capital raise, counts prominent backers such as Goldman Sachs Group Inc., DRW Holdings, Redpoint Ventures, and Valor Equity Partners, hinting at strong institutional support for its impending IPO.