Copper, a major institutional digital asset custodian, is reportedly considering an initial public offering (IPO) following rival BitGo's recent debut on the New York Stock Exchange. This move is seen as a significant milestone in the legitimization of digital asset custody, transitioning it from a niche service to an integral part of mainstream financial market infrastructure.
Copper's potential IPO is being evaluated with the involvement of major financial institutions Deutsche Bank, Goldman Sachs, and Citigroup. The company, backed by Barclays, provides institutional-grade custody, settlement, and collateral management services. Its clientele includes financial institutions seeking to handle digital assets while mitigating counterparty risk. Notably, Cantor Fitzgerald has previously selected Copper as a Bitcoin custodian, and the firm is partnered with Coinbase for off-exchange institutional settlement.
The news comes amid a broader market downturn, with Bitcoin dropping to around $84,000 and other major assets like Solana (SOL) and Hyperliquid (HYPE) seeing significant declines. However, the focus on infrastructure providers like Copper highlights a counter-narrative of institutional maturation. BitGo's IPO paved the way, and a second major custodian following suit could further validate the sector's evolution as essential financial infrastructure, especially within the context of evolving U.S. regulation.
Separately, the article heavily promotes the DeepSnitch AI (DSNT) presale, which has raised over $1.4 million. The project offers AI-powered trading tools and is providing exclusive investment bonuses. While this is presented as a market opportunity, the core institutional news revolves around Copper's strategic move and its implications for the crypto custody and infrastructure landscape.
