Here’s what happened in crypto today
Today in crypto, BitGo is going public in the United States and crypto investment funds saw a record $4.4 billion in weekly inflows. Meanwhile, the NFT market capitalization has jumped 21%, driven by renewed interest in blue-chip collections.BitGo files for US IPO as crypto custody business surpasses $100BDigital asset custodian BitGo has filed paperwork to pursue an initial public offering (IPO) in the United States, highlighting the crypto industry’s continued push toward mainstream financial markets.On Monday, BitGo announced it had confidentially submitted a draft registration statement on Form S-1 to the Securities and Exchange Commission (SEC) for a proposed IPO of its Class A common stock. At the time of filing, no determination was made on the number of shares or price range of the stock offering.As of publication, the registration statement had not yet appeared on the SEC’s EDGAR database.BitGo is one of the crypto industry’s largest custodians, with assets under custody surpassing $100 billion in the first half of 2025, up from $60 billion at the start of the year, according to Bloomberg.The IPO comes as BitGo seeks to expand its presence overseas, with the company recently securing regulatory approval in the European Union under the Markets in Crypto-Assets (MiCA) framework. As reported by Cointelegraph, the approval extends BitGo’s digital asset services across the EU.Crypto funds post record $4.4 billion inflows as Ether ETPs break 2024 gainsCryptocurrency investment products posted record-breaking inflows last week as they recorded gains for a 14th consecutive week.Global crypto exchange-traded products (ETPs) recorded $4.4 billion of inflows for the trading week that ended Friday, CoinShares reported on Monday.The inflows came amid Bitcoin (BTC) surging past $122,000 for the first time on July 14, then dropping to an intraweek low of about $116,000 before finishing the trading week at around $120,000, according to CoinGecko data.With the fresh gains, the year-to-date (YTD) inflows in crypto ETPs climbed to a new high of $27 billion, while total assets under management (AUM) for the first time broke $220 billion.Ether (ETH) ETPs set multiple records last week, with 2025 inflows surpassing 2024 totals at $6.2 billion, while weekly inflows hit double the previous record at $2.12 billion, CoinShares’ head of research James Butterfill wrote in the report.The latest inflows came as ETH surged past $3,500 for the first time since early January. The highs followed several months of downward pressure that pushed ETH below $1,500 in April, according to CoinGecko.“The past 13 weeks of inflows now represent 23% of Ethereum AUM,” Butterfill noted.Bitcoin ETP inflows remained resilient as BTC reached new all-time highs, contrasting with the slowdown seen in early July, a dip Butterfill attributed to growing caution as Bitcoin neared record levels.According to the latest update, Bitcoin funds posted $2.2 billion of inflows last week, accounting for 50% of total crypto ETP inflows.NFT market registers a bumper day of gainsInvestors appear to be piling back into NFTs after a massive day of gains across the market on Sunday, propped up by a broader crypto rally.The two largest NFT collections by market cap registered double-digit rises, with the CryptoPunks floor price pumping 15.9% in a day to 47.50 Ether and Pudgy Penguins registering a more than 15% gain to 16.60 ETH.The NFT market cap also increased 21.2% in the last 24 hours to over $6.34 billion, while the total sales volume is up 303% to $38.7 million.Several experts were predicting an NFT market rally could be on the horizon back in May, while American rapper Snoop Dogg’s NFT collection launch earlier this month also sparked conversations about a resurgence.