Cybercurrency custodian BitGo Holdings Co., Ltd. said on Monday that amid the optimism in the digital asset market, it had secretly submitted an IPO application. Founded in 2013, BitGo is one of the largest cryptocurrency custodian companies in the United States, storing and protecting digital assets for customers. The market value of the crypto industry has climbed to US$4 trillion, and Bitcoin recently hit a record high, breaking through the US$120,000 mark. Matt Kennedy, senior strategist at Renaissance Capital, said: "These are the best market conditions in the cryptocurrency space in years, and the company wants to take advantage of this. Crypto startups know that the IPO window can close unexpectedly, especially in a volatile field like cryptocurrency, so they want to strike while the iron is hot."