Crypto custody giant BitGo has officially filed for an IPO with the U.S. Securities and Exchange Commission (SEC), revealing a massive $4.19 billion in revenue for the first half of 2025. This marks an almost fourfold increase from the same period last year, signaling strong institutional adoption and confidence in digital asset infrastructure.
Despite the enormous revenue, BitGo posted a relatively modest net profit of $12.6 million, highlighting the company’s reinvestment strategy as it scales operations in a rapidly growing market.
A Key Player in Crypto Custody
Founded in 2013, BitGo has grown to become one of the most trusted names in crypto custody services in the United States. The company provides secure storage solutions for institutional investors, exchanges, and platforms that need compliant digital asset management.
BitGo was last valued at $1.75 billion in 2023, and its current financial performance suggests that valuation could significantly rise post-IPO. The company aims to trade on the New York Stock Exchange under the ticker symbol BTGO, signaling a major milestone not just for BitGo but also for the broader crypto industry.
Backed by Wall Street Giants
Backing the IPO are heavyweights Goldman Sachs and Citigroup, acting as the lead underwriters. Their involvement is a strong signal of growing Wall Street support for crypto-native firms entering traditional financial markets.
With BitGo’s IPO, the crypto sector gains another key representative in public markets, potentially drawing more institutional capital into the space. If successful, this listing could encourage other crypto infrastructure firms to follow suit.
