BitGo Files for IPO After Strong $4.19B Revenue Surge in 2025

BitGo files for IPO after $4.19B H1 revenue, expands globally, plans stablecoin, and targets institutional crypto growth.

Crypto custody firm BitGo has officially filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC), following a massive surge in revenue. According to the filing, the revenues of BitGo amounted to 4.19 billion in the first half of 2025, which is almost four times less than the annual revenues it received last year. The net profit of the company was a humble dealing of 12.6 million despite the explosive growth rate.

Citigroup and Goldman Sachs to Underwrite BitGo IPO

BitGo was established in 2013 and is regarded as one of the biggest providers of digital asset custody in the US. It provides trading, settlement, and safe storage services for cryptocurrencies. The need to have trusted custodians such as BitGo has increased as the interest of institutions in digital assets has increased.

Related Reading: BitGo Enters Brazilian Market with Regulated Subsidiary Ahead of Crypto Law

Successful investments valued BitGo at 1.75 billion dollars in 2023. Having plans to list on the New York Stock Exchange (NYSE) with the ticker symbol BTGO, the company is making its next big move. Citigroup and Goldman Sachs have been selected as the underwriters of the IPO.

On the other hand, BitGo is spreading all over the world. Recently, the company was granted a long-term license by the financial regulatory authority of Germany, BaFin. The license permits BitGo to offer regulated crypto custody, trading, staking, and settlement services in the European Union. This has seen BitGo directly competing with traditional large banks such as Deutsche Bank and Citigroup that are also entering the crypto custody business.

BitGo will be able to launch its IPO at a time when there is an increased trend in the financial market. Washington is becoming more permissive in regulating crypto and institutional adoption is rising. Therefore, flows of exchange-traded funds (ETF) and investments in digital assets are on the upswing.

The IPO research firm, IPOX, as demonstrated by its CEO, Josef Schuster, observed that investors are starting to treat digital assets as an asset class and not just a speculative tool. This development is contributing to the increased legitimacy of companies such as BitGo in the conventional financial markets.

BitGo Aims to Redefine Stablecoin Fairness and Openness

BitGo also has big plans regarding the stablecoins space. At the beginning of this month, the company announced that it is planning to introduce a U.S. dollar-backed stablecoin. Nonetheless, this stable currency will differentiate itself against the current ones by rewarding institutions that inject liquidity into the system.

CEO Mike Belshe claims that the majority of existing issuers of stablecoins do not work in a transparent and fair way. He is sure that users add value and that the model requires more openness.

To conclude, BitGo is setting itself up to play a major role in the future of the digital finance. As its revenue increases, as well as its global service offerings and emphasis on innovation, the company is striving to be the custodian of choice to institutional crypto investors in the US and other parts of the world. The coming IPO may represent a significant step in the history of BitGo and the crypto sector as a whole on their way to mainstream adoption.

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