BitGo, a leading digital asset custody provider, has filed an S-1 registration with the U.S. Securities and Exchange Commission (SEC) to become a publicly traded company. The firm plans to list its Class A common stock on the New York Stock Exchange (NYSE) under the ticker BTGO.
According to the filing, BitGo will use a dual-class share structure, giving founder Mike Belshe control over the company with 15 votes per Class B share, compared to one vote for Class A shares. The company stated that the IPO is intended to raise capital for working funds, technology development, potential acquisitions, and to increase market visibility.
BitGo’s move follows a strong financial performance, with revenues of $4.19 billion in the first half of 2025—a significant increase from $1.12 billion a year earlier. Despite this revenue growth, the company’s net income dropped to $12.6 million, a decrease attributed to higher operating costs as it scales its services.
This IPO filing is part of a growing trend in the crypto industry, following similar public debuts by companies like Circle and Grayscale. BitGo, which custodies over $100 billion in assets, maintains a concentrated portfolio, with over 80% of its assets held in Bitcoin, Sui, Solana, XRP, and Ethereum.
September 2025, Cryptoniteuae
