Prominent cryptocurrency custodian BitGo is exploring a potential initial public offering (IPO), joining various other cryptocurrency firms anticipating a more favorable regulatory landscape.

Franklin Templeton has taken a step towards launching a spot solana exchange-traded fund (ETF) by registering a trust in Delaware, according to a recent filing to Delaware’s corporate regulator.

Wall Street giant Goldman Sachs has increased its exposure to ether exchange-traded funds by 2,000% in the fourth quarter of last year, while also boosting its spot bitcoin ETF holdings to over $1.5 billion.

Top stories in the Crypto Roundup today:

• Crypto Custodian BitGo Eyes IPO
• Franklin Templeton Registers Solana Trust in Delaware
• Goldman Sachs Boosts Crypto ETF Holdings to Near $2 Billion in Q4
• CoinDesk Launches Mobile App for Cryptocurrency News and Market Data

Crypto Custodian BitGo Eyes IPO

Prominent cryptocurrency custodian BitGo is exploring a potential initial public offering (IPO), joining various other cryptocurrency firms anticipating a more favorable regulatory landscape.

The Palo Alto, California-based firm has reportedly engaged in discussions with potential advisers regarding a listing that could come in the later half of the year, according to Bloomberg.

BitGo raised $100 million in funding in 2023 at a $1.75 billion valuation from investors including Goldman Sachs, DRW Holdings, Redpoint Ventures, and Valor Equity Partners. According to people familiar with the matter, BitGo is deliberating on going public, and no final decision has been made.

Various cryptocurrency firms have started exploring public listings over the past few months. Gemini, the cryptocurrency trading platform founded by the Winklevoss twins, is considering an IPO as soon as this year, as is Bullish Global, the exchange backed by billionaire Peter Thiel.

Other firms, including USDC issuer Circle and cryptocurrency exchange Kraken, have for long held plans to go public.

Franklin Templeton Registers Solana Trust in Delaware

Franklin Templeton has taken a step towards launching a spot solana exchange-traded fund (ETF) by registering a trust in Delaware, according to a recent filing to Delaware’s corporate regulator.

The “Franklin Solana Trust” was registered on Feb. 10, with the registration having been handled by CSC Delaware Trust Company, a firm that facilitated the creation of similar cryptocurrency trust products.

To bring its proposed solana ETF to market, Franklin Templeton will need to submit a form 19b-4 and a form S-1 with the U.S. Securities and Exchange Commission (SEC). Doing so would position it alongside their asset managers including Grayscale, Bitwise, VanEck, 21Shares, and Canary Capital.

Some asset managers have submitted their S-1 filings as soon as the day after they registered crypto trust products in Delaware. 

Goldman Sachs Boosts Crypto ETF Holdings to Near $2 Billion in Q4

Wall Street giant Goldman Sachs has increased its exposure to ether exchange-traded funds by 2,000% in the fourth quarter of last year, while also boosting its spot bitcoin ETF holdings to over $1.5 billion.

The investment bank’s ether ETF holdings rose from $22 million to $476 million, split almost evenly between BlackRock’s ETHA and Fidelity’s FETH, and with $6.3 million in the Grayscale Ethereum Trust (ETHE).

The firm also bolstered its bitcoin ETF holdings by 114% to $1.52 billion. The bulk of these funds, nearly $1.28 billion, was on the iShares Bitcoin Trust, while $288 million were in the Fidelity Wise Origin Bitcoin Fund (FBTC).

The increased exposure to these funds, disclosed through the bank's form 13F with the SEC, factor in the cryptocurrency price rises seen in from the beginning to the end of Q4. In that period, BTC rose 41% while ETH rose 26.3%.

CoinDesk Launches Mobile App for Cryptocurrency News and Market Data

Disclaimer: CoinDesk acquired CCData and CryptoCompare last year.

Leading cryptocurrency news outlet CoinDesk has announced the launch of the CoinDesk Mobile App, which is designed to bring users the latest cryptocurrency news, real-time market data, and expert insights.

The app allows users to set personalized alerts for market movements, crypto price changes, or breaking news through an intuitive user interface. On top of the outlet’s news coverage, it features insights from top analysts and crypto thought leaders, as well as its video offerings.

The CoinDesk Mobile App is available to download on iOS or Android.

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