BitGo Becomes First Crypto Custodian to File for US IPO
BitGo has formally filed for an preliminary public providing, changing into the primary devoted crypto custodian to pursue an inventory on a US inventory trade.
Key Takeaways:
- BitGo has filed for a US IPO, changing into the primary crypto custodian to search a public itemizing, with plans to commerce below the ticker “BTGO.”
- The firm reported $4.19 billion in income for H1 2025 and holds $90.3 billion in digital property.
- BitGo additionally serves as custodian for the Trump-linked World Liberty stablecoin.
The Palo Alto-based agency plans to commerce below the ticker “BTGO” on the New York Stock Exchange, marking a serious milestone within the convergence of conventional capital markets and digital asset infrastructure.
Founded in 2013, BitGo is without doubt one of the most established custody platforms within the trade, at the moment safeguarding $90.3 billion in digital property for a worldwide roster of institutional shoppers.
BitGo Powers Trump-Linked World Liberty Stablecoin as Custodian
The firm has additionally expanded into stablecoin providers, together with performing as custodian and infrastructure supplier for the controversial World Liberty stablecoin linked to Donald Trump’s crypto initiative.
The IPO submitting reveals a surge in enterprise efficiency. In the primary half of 2025, BitGo posted $4.19 billion in income, practically quadrupling year-over-year, with internet earnings reaching $12.6 million.
While that revenue is down from $30.9 million a 12 months earlier, the income progress displays rising demand from monetary establishments transferring deeper into crypto markets.
The firm beforehand reported $3 billion in income and $157 million in revenue for all of 2024.
BitGo’s transfer comes as crypto listings achieve momentum in US markets.
“Investors are more and more viewing digital property as an asset class in their very own proper,” said Josef Schuster, CEO of IPOX.
The present market window, formed by softer regulatory obstacles and rising institutional adoption, provides a uncommon alternative for crypto infrastructure suppliers to step into the general public area.
Goldman Sachs and Citigroup are main the underwriting for BitGo’s providing.
Crypto IPOs Gain Momentum
BitGo’s IPO submitting comes amid renewed momentum for crypto-related public choices.
The digital asset area has seen a number of notable public listings in 2025. Stablecoin issuer Circle made a splash with its IPO in June, surging greater than sevenfold since going public.
Online trading platform Etoro, which provides crypto buying and selling amongst its providers, debuted in May.
In addition, Galaxy Digital, led by Mike Novogratz, moved its itemizing from the Toronto Stock Exchange to Nasdaq earlier this 12 months.
Gemini, the trade based by the Winklevoss twins, filed confidentially for a U.S. IPO in June, signaling robust market confidence in crypto exchanges going public.
More not too long ago, Figure Technology Solutions Inc., a blockchain-focused lending platform, raised $787.5 million in its initial public offering.
The San Francisco-based firm, alongside key backers together with Ribbit Capital, offered 31.5 million shares at $25 apiece, valuing the agency at roughly $5.3 billion.
Originally focusing on a decrease vary, Figure elevated each the share rely and value simply days earlier than the itemizing, signaling robust investor demand.
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