"BitGo Unveils $4.2B Revenue, $90B Crypto Assets in Historic IPO Filing"

BitGo Files for IPO with $4.2B Revenue, $90B in Crypto Assets on Platform In a significant move, cryptocurrency custodian BitGo has filed for an initial public offering (IPO) with the Securities and Exchange Commission (SEC), seeking to list its Class A common stock on the New York Stock Exchange under the ticker BTGO. According to the company's S-1 registration statement, BitGo reported $4.2 billion in revenue for the first half of 2025, nearly quadrupling its revenue from the same period last year. The IPO filing comes as a surprise to some industry observers, given that BitGo's profitability has decreased in recent months. According to the company's financials, net income for the half-year fell to $12.6 million, down from $30.9 million in the same period a year earlier. Despite this decline, BitGo's management team remains optimistic about the company's prospects. BitGo manages over $90 billion in cryptocurrency assets on its platform, with a concentrated client base and a majority of assets held in a few cryptocurrencies. This significant market presence has led some experts to speculate that the IPO will provide a rare glimpse into the financials and operations of a major player in the rapidly growing digital asset market. "BitGo's IPO is a significant development for the cryptocurrency industry," said Francisco Rodrigues, a finance expert who has been following BitGo's progress. "The company's ability to attract such a large amount of assets under management is a testament to its expertise and reputation in the field." According to the S-1 filing, BitGo plans to use the proceeds from the IPO to expand its operations and further develop its platform. The company has not disclosed how much it hopes to raise through the offering. BitGo's CEO, Mike Belshe, expressed confidence about the company's prospects in a statement accompanying the IPO filing. "We believe that our unique combination of expertise and technology makes us well-positioned to capitalize on the growing demand for digital asset custody services," he said. The SEC has not yet reviewed BitGo's S-1 registration statement, but the company is expected to begin trading on the NYSE under the ticker BTGO once the review process is complete. The IPO is expected to be one of the largest in the cryptocurrency industry this year, and will provide a rare opportunity for investors to gain exposure to the rapidly growing digital asset market. As BitGo prepares to go public, experts are watching closely to see how the company's financials and operations will be received by investors. With its significant market presence and growing demand for digital asset custody services, BitGo is poised to make a major impact on the cryptocurrency industry in the coming months. This story was compiled from reports by CoinDesk and CoinDesk.