According to the latest report, crypto custody company BitGo has filed an initial public offering (IPO) in the United States. This strategic move comes as several digital asset firms look to take advantage of the improving climate under United States President Donald Trump’s administration.
BitGo Records $4.2 Billion Revenue In First Half Of 2025
On Friday, September 19, BitGo submitted an S-1 filing with the US Securities and Exchange Commission (SEC) for an initial public offering. The crypto custodian aims to list its Class A common stock on the New York Stock Exchange (NYSE) under the ticker symbol “BTGO,” the document revealed.
This latest filing comes after BitGo initially submitted a confidential draft version of S-1 IPO document in July. The firm is looking to join a strong list of recent public debuts in the United States by crypto companies, including Circle, Bullish, and Figure.
In the S-1 filing, BitGo disclosed that it held around $90.3 billion worth of assets on its platform as of June 2025. Meanwhile, the crypto custody firm also claimed to have witnessed a revenue growth in the first half of the year, with $4.2 billion compared to $1.1 billion in the first six months of 2024.
Source: SEC
Based on the terms of the S-1, BitGo co-founder and CEO Mike Belshe will retain majority voting power under a dual-class share structure, holding Class B shares with 15 votes each. This detail will ensure that BitGo remains a “controlled company” under NYSE rules.
The filing read:
Although we do not currently intend to rely on any such exemptions, we may do so in the future and if we utilize any of the exemptions, you will not have the same protections as those afforded to stockholders of companies that are subject to such governance requirements” and “Management - Controlled Company Status” for more information.
As already mentioned, several crypto firms have seen notable public market debuts over the past few months. Meanwhile, other major companies, including Gemini and Grayscale, are also looking to go public in the United States.
Crypto Firms Continue To Flourish Under Trump
Following the election of Donald Trump as US president, the US crypto landscape has witnessed a positive shift. This change has arrived on the back of a clearer regulatory regime, as seen with the introduction of crypto-focused bills such as the GENIUS Stablecoin Act.
Moreover, the “crypto treasury” frenzy is also another example to point at, as more publicly traded firms are actively acquiring digital assets on their balance sheet. This rise in the institutional adoption of cryptocurrencies can be seen in the continuous growth of the market, with various assets reaching multiple all-time highs in the past few months.
The total crypto market capitalization on the daily timeframe | Source: TOTAL chart on TradingView
Featured image from Shutterstock, chart from TradingView
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