Hassan Maishera
TL;DR
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BitGo has filed for an IPO and intends to list on the New York Stock Exchange under the ticker BTGO.
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The company currently manages over $90 billion in cryptocurrency on its platform.
BitGo Files for an IPO, to List on NYSE
BitGo, one of the leading cryptocurrency custodians in the space, has filed its first public S-1 registration statement with the U.S. Securities and Exchange Commission (SEC). In its filing, the company announced its intentions to list Class A common stock on the New York Stock Exchange under the ticker BTGO.
Per the filing, the company generated $4.19 billion in revenue in the first six months of 2025, nearly 400% of the $1.12 billion it recorded in the same period last year. Despite that, profitability has decreased to $12.6 million in the first half of the year, down from $30.9 million recorded during the same period last year. The decline in profit was attributed to rising operating costs.
Last year, BitGo reported $3.08 billion in revenue and $156.6 million in net income. Of this income, the company allocated $54.1 million to common stockholders.
BitGo has been around since 2013 and is headquartered in Palo Alto. The company is popular in the crypto space for offering cold storage and multi-signature wallets for exchanges, hedge funds, and banks.
Thanks to the growth of the broader crypto market, BitGo now manages over $90 billion in crypto on its platform, with over 1.1 million users.
In its filing, BitGo revealed that most of its customers hold BTC, SOL, SUI, ETH, and XRP.
“The value of a majority of our AoP has been, and continues to be, concentrated in a few digital assets held by our clients, including Bitcoin, Sui, Solana, XRP, and Ethereum, which constitute 48.5%, 20.1%, 5.7%, 3.9%, and 3.0% of our AoP [Assets on Platform] as of June 30, 2025, respectively,” the company added.
BitGo added that proceeds generated from the IPO would be channelled towards technology development, acquisitions, and stock-based compensation while boosting visibility and financial flexibility.
BitGo plans to follow other leading crypto companies, including Circle, Gemini, and Bullish, in listing on the stock exchange.
