Crypto Custodian BitGo filed a first public registration statement on S-1 with the US Securities and Exchange Commission (Sec)Planning to list Class A Common Stock at the New York Stock Exchange under Ticker BTGO.
The File Provides a rare view of the company’s business scale. BitGo generated $ 4.19 billion in revenue in the first six months of 2025, almost quadrupling the $ 1.12 billion recorded the same period a year before.
However, the profitability is tight: the net income for half a year fell to $ 12.6 million, down from $ 30.9 million in the first half of 2024, as the costs of operating weight on margins increased.
In 2024, BitGo reported $ 3.08 billion revenue and $ 156.6 million in net income, with $ 54.1 million associated with standard stockholders.
Based on Palo Alto, BitGo was established in 2013 and built its reputation by offering cold storage and multi-signature wallets for exchanges, fence funds, and banks. The firm now manages more than $ 90 billion in cryptocurrency on its platform, from 1.14 million users.
These figures, however, remain concentrated in nearly five cryptocurrencies.
Per file: “The value of a majority of our AOP has become, and continues, concentrated on some digital assets held by our clients, including Bitcoin, Sui, Solana, XRP, and Ethereum, which make up 48.5%, 20.1%, 5.7%, 3.9%, and 3.0%of our AOP (Platform Platform) to June 30, 2025, according CONTINUED.
S-1 also described a dual-class sharing structure, which provides class B shareholders, including co-founder and CEO Mike Belshe, 15 votes per part compared to a vote for Class Stock A. Setup ensures that Belshe will remain in control after the offer, with the BitGo’s qualifying “
BitGo said the IPO revenue will fund the development of technology, acquisition, and stock-based payment while strengthening financial visibility and flexibility.
IPO follows public lists moving from other major companies in the cryptocurrency sector, including Circle, Geminiand The parent of the coindesk company Bullish.
