BitGo, a leading crypto custody services firm, has unveiled a global over-the-counter (OTC) trading desk, expanding its footprint in the institutional digital asset market. The launch comes as BitGo reportedly prepares for an initial public offering (IPO) expected later this year.
The newly introduced OTC desk integrates liquidity from multiple sources, including exchanges, and facilitates spot and derivatives trading across more than 250 digital assets. Additionally, the platform offers lending services and yield-generating products, BitGo announced in a February 18 statement.
Institutional OTC crypto trading volumes have surged 106% in 2024, driven by renewed investor confidence following U.S. President Donald Trump’s election victory and growing demand for spot crypto exchange-traded funds (ETFs), according to OTC infrastructure provider Finery Markets.
BitGo’s Managing Director, Matt Ballensweig, emphasized that the OTC desk enables clients to execute trades across spot, derivatives, and lending markets while ensuring asset security in qualified custody until settlement. The platform also boasts $250 million in insurance coverage, catering to venture capitalists and hedge funds interested in trading locked layer-1 tokens.
This development follows BitGo’s December announcement of a global digital asset solutions platform for retail investors, offering trading, staking, and wallet services akin to traditional crypto exchanges.
Meanwhile, Bloomberg reported on February 11 that BitGo is engaged in discussions with investment banks regarding a potential public listing in the latter half of 2025. However, these talks remain in preliminary stages, with no final decision confirmed.
BitGo currently provides regulated crypto custody, lending, and infrastructure services to U.S. institutions, managing approximately $100 billion in assets under custody. If the firm proceeds with an IPO, it will join a growing list of major crypto companies eyeing public equity markets.
Also Read: BitGo Unveils USDS: A Reward-Bearing Stablecoin – Will it Challenge the Dominance of USDT and USDC?
Crypto ETF issuer Bitwise previously projected that at least five crypto unicorns—including Circle, Kraken, Figure, Anchorage Digital, and Chainalysis—could go public in 2025. Coinbase set a precedent in 2021 as the first major crypto firm to list on Nasdaq, signaling a trend that BitGo may soon follow.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
About The Author
