TLDR
- BitGo files for NYSE IPO with $90B assets and 200%+ revenue growth.
- Crypto custodian BitGo goes public, ticker “BTGO,” aiming at institutions.
- BitGo IPO: $90B assets, strong profits, and global regulatory licenses.
- From $926M to $3B revenue, BitGo’s IPO cements crypto custody dominance.
- BitGo seeks NYSE debut with dual-class shares, $90B assets under custody.
Crypto custody firm BitGo has officially filed for a US IPO, seeking a listing on the New York Stock Exchange. The BitGo IPO registration reveals a plan to trade under the ticker “BTGO” as it aims to capture institutional momentum. With assets under custody reaching $90.3 billion in June 2025, BitGo positions itself to benefit from favorable regulatory and market shifts.
The BitGo IPO filing confirms its strategy to serve over 4,600 clients and 1.1 million users across 100 countries. Its platform now supports more than 1,400 digital assets, offering infrastructure for crypto-native firms and traditional finance. BitGo’s dual-class share structure ensures CEO Michael Belshe retains voting control as the company goes public.
The firm completed SOC 1 and SOC 2 audits and offers $250 million in insurance, boosting its appeal to enterprise clients. BitGo also gained a license from Germany’s BaFin, allowing it to provide services under the EU’s MiCA framework. These developments position the BitGo IPO as a major move in the global digital asset infrastructure space.
Revenue Grows Over 200% as Profit Returns
BitGo reported $3 billion in revenue for 2024, more than tripling from $926 million in 2023. Net income reached $156.5 million, reversing a $2.1 million loss the previous year. These strong financials strengthen the BitGo IPO case for institutional participation.
Platform assets rose from $30.8 billion in 2023 to $89.9 billion in 2024, showing substantial demand growth. Client numbers increased to 2,615 from 1,367, while staked assets surged from $6 billion to $31.8 billion. BitGo’s expanding user base and revenue underline its operational momentum heading into the IPO.
Six-month 2025 data confirms continued growth, with 4,621 clients and $90.3 billion in platform assets. Although operating expenses hit $3.09 billion, much of this stemmed from digital asset sales. Despite high costs, BitGo sustained substantial income and platform scale, reinforcing the strength of the BitGo IPO narrative.
BitGo Aligns with US and EU Regulatory Strategy
BitGo continues its push for global regulatory compliance while targeting national bank charter status in the US. This move would integrate BitGo deeper into banking infrastructure and expand its service reach. The BitGo IPO filing highlights this as a long-term strategy to gain institutional trust.
BitGo’s approval under the EU’s Markets in Crypto-Assets framework allows pan-European service delivery. The company also benefits from eased US regulations, especially following the Trump administration’s rollback of certain crypto custody restrictions. These developments create an environment that favors BitGo’s public market ambitions.
Alongside BitGo, other crypto firms like Circle and Bullish have recently gone public, signaling industry maturity. BitGo’s IPO stands out with its high asset base, global licensing, and strong revenue growth. With its dual-class structure and controlled governance, BitGo aims for long-term public market sustainability.
Strategic Share Sale and Market Entry Underway
The BitGo IPO prospectus shows plans for both company-issued and shareholder-sold stock, though pricing details remain undisclosed. BitGo will offer Class A shares to the public while retaining Class B shares for voting control. CEO Michael Belshe will lead the post-IPO structure with 15 votes per Class B share.
This structure classifies BitGo as a “controlled company” under NYSE rules, exempting it from some governance standards. It mirrors approaches taken by tech firms to balance public listing and internal control. The BitGo IPO thus positions the firm for scalability while keeping strategic direction centralized.
The IPO filing confirms a confidential SEC submission from July 21, reflecting long-term planning. BitGo’s move to go public follows a broader trend of institutional capital entering digital assets. The BitGo IPO reflects increasing confidence in regulated crypto custody as the industry matures.
