Crypto Custodian BitGo Files for U.S. IPO After Revenue Quadruples

**BitGo Files for U.S. IPO Amidst Strong Financial Growth and Market Optimism** Crypto custody startup BitGo has officially filed for a U.S. initial public offering (IPO), signaling a substantial improvement in its financial performance. For the six months ending June 30, 2025, BitGo reported revenues of $4.19 billion, representing a nearly fourfold increase from the $1.12 billion generated in the same period the previous year. While the company recorded a profit of $12.6 million, this is a decrease from the $30.9 million profit reported in the prior year. This move toward public markets follows a successful 2023 funding round that valued the firm at $1.75 billion. Established in 2013, BitGo stands as one of the largest crypto custody firms in the United States, providing secure digital asset storage for clients amid escalating institutional interest in cryptocurrencies. The IPO is expected to be a notable event within a busy fall season for U.S. public offerings, potentially marking one of the most active periods since 2021. Crypto firms are playing a significant role in this market activity, building on the momentum generated by successful debuts from companies such as Circle, Bullish, and Figure. The article attributes this positive trend to advancements in regulatory frameworks and a more accommodating stance from Washington, which are collectively driving institutional adoption and inflows into cryptocurrency-related investment vehicles. Josef Schuster, CEO of IPO research firm IPOX, commented, "Investors are increasingly viewing digital assets as an asset class in their own right, rather than purely speculative instruments." BitGo plans to list its shares on the New York Stock Exchange under the ticker symbol "BTGO." Goldman Sachs and Citigroup have been appointed as the lead underwriters for this offering. This IPO filing represents a pivotal moment for BitGo and further underscores the growing maturity and mainstream acceptance of the digital asset sector.