BitGo has launched a global over-the-counter (OTC) trading desk for digital assets, coinciding with reports of a potential initial public offering (IPO) in late 2025.
BitGo has launched a global over-the-counter (OTC) trading desk for digital assets, coinciding with reports of a potential initial public offering (IPO) in late 2025. The new OTC platform offers access to spot and derivatives trading across over 250 digital assets, along with lending services and yield-generating products.
According to a statement released on Feb. 18, BitGo’s OTC desk integrates multiple liquidity sources, including various exchanges.
Managing Director Matt Ballensweig emphasized that the desk allows clients to execute trades while their assets remain secured in qualified custody until settlement, with $250 million in insurance coverage protecting these assets.
The launch follows a significant increase in institutional crypto OTC trading volumes, which surged by 106% in 2024. This spike was attributed to the election of U.S. President Donald Trump and an escalating demand for spot crypto exchange-traded funds (ETFs), as reported by OTC infrastructure firm Finery Markets.
In December 2023, BitGo announced its plans to expand its digital asset solutions globally for retail investors, including services such as trading and staking, similar to those offered by traditional crypto exchanges. The firm currently claims to hold $100 billion in assets under custody for U.S. institutions.
Reports indicate that BitGo is in negotiations with investment banks regarding a public launch, although no definitive plans have been confirmed. If BitGo proceeds with the IPO, it could join a growing list of crypto firms exploring public equity markets in 2025, which includes entities like Circle, Kraken and Anchorage Digital.
In 2021, Coinbase became the first major crypto firm to go public in the U.S., setting a precedent for future listings in the sector.
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