BitGo pushes for IPO: Crypto custodian files IPO application

INFBusiness
21.09.2025
Markets

Crypto custodian BitGo continues to work on an IPO in the US. The company has now submitted an S-1 filing to the US Securities and Exchange Commission (SEC).
In it, the company announces that it will list its Class A Common Stock under the ticker BTGO on the New York Stock Exchange (NYSE).
As of June 30, 2025, BitGo managed $90.3 billion in digital assets. These assets come from more than 4,600 institutional clients and 1.1 million users in over 100 countries.
The company offers custody for around 1,400 digital assets, including the largest cryptocurrencies such as Bitcoin and Ethereum.
The filing also points to expansion plans in Europe. BitGo has received an extended license from BaFin, allowing the company to offer additional services such as trading, custody, staking, and transfers under the MiCA regulation.
The crypto custodian submitted an initial letter of intent two months ago. However, financial details were still missing then, as they are now. The price at which BTGO will be issued has not yet been determined. Accordingly, no conclusions can yet be drawn regarding the company's valuation.
However, the move fits BitGo's strategy. The company aims to establish itself as a global infrastructure provider for digital assets, particularly for institutional investors who rely on regulated offerings.
The IPO joins a wave of prominent crypto IPOs. Previously, Circle, Bullish, and Gemini, among others, made their stock market debuts. Market observers see this as a signal of growing institutional demand for crypto products, which is being reinforced by recent regulatory changes in the US. Read here: What's behind the IPO fever among crypto companies

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