BitGo, a leading U.S.-based cryptocurrency custody firm, has filed for an initial public offering (IPO) with the Securities and Exchange Commission (SEC), aiming to list on the New York Stock Exchange under the ticker symbol “BTGO”
Reuters
. The company reported approximately $90.3 billion in assets under custody as of June 30, 2025, reflecting a significant increase in institutional demand for digital asset infrastructure
Cointelegraph
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Company Overview

Founded in 2013 and headquartered in Palo Alto, California, BitGo specializes in providing secure storage and compliance solutions for digital assets
Reuters
. The firm serves over 4,600 institutional clients and more than 1.1 million users across 100 countries
Cointelegraph
. BitGo supports more than 1,400 digital assets and offers services including custody, trading, staking, and lending
Cointelegraph
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Financial Performance

In the first half of 2025, BitGo’s revenue surged to $4.19 billion, nearly quadrupling from $1.12 billion in the same period the previous year
Reuters
. However, net income declined to $12.6 million from $30.9 million, attributed to increased operating costs associated with scaling infrastructure to meet growing institutional demand
AInvest
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Governance and Structure

BitGo’s co-founder and CEO, Michael Belshe, will retain control of the company through a dual-class share structure, holding Class B shares with 15 votes each, compared to one vote per Class A share
Cointelegraph
. This structure qualifies BitGo as a “controlled company” under New York Stock Exchange rules, exempting it from certain governance standards
Cointelegraph
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Regulatory and Market Position

The IPO filing comes amid a resurgence in institutional interest in digital assets, bolstered by favorable regulatory developments in the United States
Reuters
. BitGo has also secured an extended license from Germany’s Federal Financial Supervisory Authority (BaFin), allowing its European arm to offer trading, custody, staking, and transfer services under the EU’s Markets-in-Crypto-Assets (MiCA) framework
Cointelegraph
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Industry Context

BitGo’s move to go public aligns with a broader trend of cryptocurrency firms seeking public listings, including Circle, Bullish, and Figure
Reuters
. The growing adoption of digital assets by institutional investors and the development of regulatory frameworks have contributed to a more favorable environment for crypto-related IPOs
Reuters
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Conclusion

BitGo’s IPO filing marks a significant milestone in the maturation of the cryptocurrency industry, reflecting increased institutional adoption and confidence in digital asset infrastructure
Reuters
. As the company prepares for its public debut, it aims to leverage the proceeds to further expand its services and strengthen its position in the evolving digital asset ecosystem
Reuters