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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
09/20/2025

BitGo Files for U.S. IPO with $90.3B in Assets Under Custody, Eyes NYSE Listing

BitGo — a leading digital asset custodian — has officially filed for an initial public offering (IPO) in the United States, targeting a listing on the New York Stock Exchange (NYSE) under the ticker "BTGO". According to the S-1 filing submitted to the U.S. Securities and Exchange Commission (SEC) on September 19, BitGo currently manages approximately $90.3 billion in Assets Under Custody (AUC) as of June 30, 2025. The company serves more than 4,600 institutional clients, 1.1 million users across 100 countries, and supports over 1,400 di

BitGo Files for U.S. IPO with $90.3B in Assets Under Custody, Eyes NYSE Listing

BitGo — a leading digital asset custodian — has officially filed for an initial public offering (IPO) in the United States, targeting a listing on the New York Stock Exchange (NYSE) under the ticker "BTGO".

According to the S-1 filing submitted to the U.S. Securities and Exchange Commission (SEC) on September 19, BitGo currently manages approximately $90.3 billion in Assets Under Custody (AUC) as of June 30, 2025. The company serves more than 4,600 institutional clients, 1.1 million users across 100 countries, and supports over 1,400 digital asset types.

BitGo also provides $250 million in insurance coverage and has completed both SOC 1 and SOC 2 audits, demonstrating strict adherence to industry security standards.

CEO Retains Control Through Dual-Class Share Structure

Under the IPO plan, co-founder and CEO Michael Belshe will maintain voting control through a dual-class share structure. Specifically, the Class B shares he holds carry 15 votes per share, while Class A shares carry just one vote each. This structure qualifies BitGo as a "controlled company" under NYSE rules, exempting it from certain governance requirements.

European Expansion

Alongside the IPO, BitGo received an expanded license from Germany's Federal Financial Supervisory Authority (BaFin), allowing its European subsidiary to offer trading, custody, staking, and digital asset transfer services under the European Union's MiCA framework.

Institutional Players Return to Crypto

BitGo's IPO move comes as a growing number of major financial institutions are re-entering the digital asset custody space. Recently, US Bancorp relaunched its crypto custody service for fund managers after the Trump administration rolled back a regulation that had previously hampered banks from operating in this area.

Major European financial institutions are making similar moves: Deutsche Bank has announced plans to offer Bitcoin custody starting in 2026, while Citigroup is reportedly weighing a move into crypto custody and payments.

The Crypto IPO Wave

BitGo follows a string of successful crypto listings, including Circle (issuer of the USDC stablecoin), Bullish (a crypto exchange), and Figure (a blockchain-based lending company). The trend signals growing Wall Street appetite for digital asset infrastructure plays.