Crypto custodian Copper is weighing a potential initial public offering as institutional demand for digital asset infrastructure grows following rival BitGo’s recent stock market debut.
CoinDesk reported that Copper is exploring listing options with banks including Deutsche Bank, Goldman Sachs and Citigroup, citing sources close to the discussions.
A Copper spokesperson said the company is not currently planning a public listing, but declined to comment on whether it is holding early-stage talks about going public.
Backed by Barclays, Copper provides custody, settlement and collateral management services for institutions seeking to store and move digital assets while reducing counterparty risk.
Institutional adoption has accelerated as regulatory conditions shift in the US, with firms such as Cantor Fitzgerald selecting Copper as a Bitcoin custodian alongside Anchorage Digital and partnerships expanding with Coinbase.
BitGo’s IPO last week, which priced at $18 per share and raised more than $200 million, has since seen its shares fall below issue price, underscoring the volatility facing newly listed crypto firms.
Still, a second major custodian moving toward public markets would reinforce digital asset custody as core financial infrastructure, as companies including Circle, Gemini, Bullish, Kraken and Ledger also weigh potential listings.
At the time of reporting, Bitcoin price was $84,559.76.