Key Milestones in Digital Asset Custody
BitGo Inc., a leading digital asset custody platform, has reported extraordinary growth in its assets under management (AUM). According to Abel Seow, BitGo's Managing Director for Asia-Pacific, the company's AUM skyrocketed from $60 billion to $100 billion during the first half of 2025.
Driving Forces Behind the Growth
- Regulatory Clarity: The global cryptocurrency adoption wave, fueled by clearer regulatory frameworks, has significantly contributed to this expansion.
- Staking Dominance: Approximately 50% of BitGo's custody assets are tied to staking services—where investors lock up crypto holdings to participate in blockchain validation and earn token rewards.
👉 Discover how staking works and its profitability
Company Background & Market Position
Founded in 2013, BitGo has evolved into one of America's largest cryptocurrency custodians. Its service portfolio extends beyond custody to include:
- Digital asset trading
- Crypto-backed lending
Financial Highlights
- 2023 Funding Round: Raised $100 million at a $1.75 billion valuation
- Investor Base: Includes institutional heavyweights like Goldman Sachs, DRW Holdings, and Redpoint Ventures (per April 2024 disclosures)
Strategic Expansion Plans
BitGo is actively pursuing globalization:
- Asian Partnerships: Received 2024 strategic investments from South Korea's Hana Financial Group and SK Telecom
- Middle East Entry: Successfully launched services in Dubai in early 2025
- IPO Potential: Considering a public listing as early as late 2025, which would mark a significant milestone under the pro-crypto U.S. administration
Political Context
The U.S. political landscape has become increasingly crypto-friendly, with:
- Pro-crypto regulatory appointments
- Stablecoin legislation advancements
- Direct White House engagement in cryptocurrency initiatives
Future Outlook
Seow confirmed that BitGo's South Korean joint venture is progressing smoothly, indicating sustained international momentum. This growth trajectory positions BitGo as a bellwether for institutional crypto adoption.
👉 Explore BitGo's custody solutions for institutions
Frequently Asked Questions
Q1: What percentage of BitGo's AUM comes from staking?
A: Staking accounts for roughly 50% of its $100 billion custody assets.
Q2: When might BitGo go public?
A: The company is evaluating an IPO as early as Q3/Q4 2025.
Q3: Which regions is BitGo targeting next?
A: After establishing presence in Dubai and Korea, BitGo is eyeing further expansion in regulated crypto markets.
Q4: How does BitGo ensure asset security?
A: It employs multi-signature wallets and institutional-grade custody protocols developed since 2013.
Q5: What makes BitGo stand out among custodians?
A: Its integrated offering of custody, trading, and lending services creates a unique value proposition for institutional clients.
Q6: Who are BitGo's major investors?
A: Investment comes from top-tier firms including Goldman Sachs and Valor Equity Partners.