BitGo Holdings Inc., a provider of digital asset custody and infrastructure, has filed for an initial public offering (IPO) with the US Securities and Exchange Commission, joining a growing cohort of crypto-native firms seeking public listings in 2025.
Founded in 2013 and headquartered in Palo Alto, BitGo plans to list its Class A common stock on the New York Stock Exchange under the ticker symbol BTGO. According to its S-1 filing, the company reported $4.19bn in revenue for the six months ended 30 June 2025, compared to $1.12bn in the same period the previous year. Net income fell to $12.6m from $30.9m, reflecting increased operating expenses.
BitGo’s platform supports over $90bn in digital assets, with significant holdings in Bitcoin, Ethereum, Solana, XRP, and Sui. The firm operates a dual-class share structure, with Class B shares carrying 15 votes each, ensuring continued control by co-founder and CEO Mike Belshe.
The filing outlines BitGo’s intention to use IPO proceeds for product development, potential acquisitions, and stock-based compensation. It also details the company’s expansion into trading, staking, and lending services, alongside its core custody offering.
BitGo’s client base includes exchanges, institutional investors and financial institutions. The firm holds 31 active patents and has 18 pending applications, underscoring its investment in proprietary technology.
This IPO follows similar moves by Circle, Bullish, and Gemini, signalling significant public market interest in digital asset infrastructure amid evolving regulatory frameworks.
