{"id":89118,"date":"2025-09-21T14:04:43","date_gmt":"2025-09-21T11:04:43","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=89118"},"modified":"2025-09-21T14:05:10","modified_gmt":"2025-09-21T11:05:10","slug":"bitgo-to-go-public-with-90-billion-in-assets","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitgo-to-go-public-with-90-billion-in-assets\/","title":{"rendered":"BitGo to Go Public with $90 Billion in Assets"},"content":{"rendered":"

The cryptocurrency custodian BitGo has submitted<\/a> an application to the U.S. Securities and Exchange Commission (SEC) for an IPO<\/span>.<\/p>\n

The company plans to list its Class A common stock on the New York Stock Exchange (NYSE) under the ticker BTGO. Goldman Sachs and Citi will serve as lead underwriters.<\/p>\n

According to the S-1 form, as of June 30, BitGo held assets worth approximately $90.3 billion on its platform. The custodian’s client base comprises around 4,600 enterprises and high-net-worth individuals, as well as over 1.1 million end users.<\/p>\n

BitGo supports more than 1,400 digital currencies and provides insurance coverage of up to $250 million.<\/p>\n

In the first half of the year, the firm’s revenue grew to nearly $4.2 billion, up from $1.1 billion the previous year. However, net profit decreased from $30.9 million to $12.6 million year over year.<\/p>\n

BitGo co-founder and CEO Mike Belshe will retain a controlling stake after the IPO by holding Class B shares, each with 15 votes.<\/p>\n

This structure allows the custodian to be considered a “controlled company” under NYSE rules. BitGo stated in its application that it does not intend to use the management exemptions afforded by such status.<\/p>\n

Since the beginning of the year, several industry companies have gone public in the U.S. amid favorable regulatory changes. These include the stablecoin issuer Circle<\/a>, the centralized lending platform Figure, and the cryptocurrency exchanges Bullish and Gemini<\/a>. Kraken is also considering<\/a> similar plans.<\/p>\n

In February, Belshe stated<\/a> that conducting an IPO helps crypto firms “ensure trust in digital assets.” He cited due diligence, accompanying processes, and SEC oversight as key components.<\/p>\n

Back in 2023, following a $100 million funding round, investors valued BitGo at $1.75 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"

The cryptocurrency custodian BitGo has submitted an application to the U.S. Securities and Exchange Commission (SEC) for an IPO.<\/p>\n","protected":false},"author":1,"featured_media":89119,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"BitGo files for IPO with SEC, plans NYSE listing under BTGO.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[194,767,1211],"class_list":["post-89118","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitgo","tag-ipo","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"247","promo_type":"1","layout_type":"1","short_excerpt":"BitGo files for IPO with SEC, plans NYSE listing under BTGO.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/89118","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=89118"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/89118\/revisions"}],"predecessor-version":[{"id":89120,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/89118\/revisions\/89120"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/89119"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=89118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=89118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=89118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}