Recently, the cryptocurrency market has become active again, $Bitcoin (BTC.CC)$ with a strong rebound to a two-month high of $97,900, just one step away from breaking through the $100,000 mark. This rally coincides with the US Senate Banking Committee preparing for a key vote on a cryptocurrency market structure bill, but the fate of the bill remains uncertain due to intense disputes between Wall Street banks and the cryptocurrency industry over stablecoin revenue rights.
Amidst this,custody giant $BitGo Holdings (BTGO.US)$has officially knocked on the door of a US IPO.In fact, since last year, after former US President Trump showed a positive embrace of the crypto industry, many crypto companies have accelerated their steps toward going public. However, the market reaction has been clearly divided.
Circle, the stablecoin issuer, surged over 169% on its debut day and has risen 365% compared to the offering price since listing, becoming one of the most notable cases in 2025.
Additionally, Bullish, invested in by Peter Thiel, soared nearly 84% on its first day, while FIGR, the first RWA stock, rose more than 24% on its debut, accumulating gains of 57% since listing. In contrast, Gemini had a relatively muted performance, rising only 14% on its first day.
So, what is BitGo, the company impacting the US IPO market this time? How are its fundamentals? This article provides an in-depth...