BitGo, a major player in cryptocurrency custody, made a big move this week. The company filed papers for an initial public offering (IPO) in the U.S. It wants to list its shares on the New York Stock Exchange (NYSE) under the ticker symbol “BTGO.” This step aims to capture the growing interest from large financial institutions in digital assets.
Based in Palo Alto, BitGo hopes to take advantage of renewed institutional demand. This interest comes as the market sees more favorable policies from the U.S. government. The company’s official filing, known as a Form S-1, shows it manages about $90.3 billion in assets. This figure was current as of June 30, 2025. You can see the details in their official filing: Formulario S-1.
BitGo serves a huge global client base. It works with over 4,600 businesses and 1.1 million individual users across more than 100 countries. This shows its strong position as a worldwide leader in digital asset custody. The company offers support for over 1,400 different digital assets. Its customers range from crypto-focused businesses to traditional financial firms, governments, and wealthy individuals. BitGo also provides $250 million in insurance coverage and has completed important SOC 1 and SOC 2 security audits.
BitGo solicita IPO y busca cotizar en NYSE BTGO
USD 90.3B en custodia
4.600 clientes y 1,1M usuarios en 100+ países
CEO mantendrá control: Clase B 15 votos
Licencia BaFin y seguro USD 250M pic.twitter.com/pQ4PoCIkJP— Diario฿itcoin (@Blaze Trends)
Who’s in Charge?
Michael Belshe, BitGo’s co-founder and CEO, plans to keep control of the company. He will do this through a special dual-class share structure. His Class B shares will each carry 15 votes. In contrast, Class A shares will have only one vote each. This setup means BitGo will be considered a “controlled company” by NYSE rules. This allows it to skip some normal governance requirements.
This type of voting structure is not new in the tech world. However, it’s a fresh approach in the crypto industry. It lets founders keep a strong hand in strategic choices and the company’s future path. Around the same time as its IPO filing, BitGo also secured an expanded license from BaFin, the German financial regulator. This license lets its European branch offer trading, custody, staking, and transfer services. These services fall under the European Union’s MiCA (Markets in Crypto-Assets) law.
Getting this regulatory approval is vital. It helps the crypto industry gain trust and follow rules in established markets. The license also opens doors for BitGo to attract European institutions. These clients often demand more legal certainty and strict custody standards for their digital holdings.
The Market Right Now
BitGo’s stock market debut follows a string of successful listings by other crypto companies. Recent examples include stablecoin issuer Circle, the Bullish exchange, Gemini, and the lending firm Blockchain Figure. These successes suggest that traditional investors are increasingly interested in digital asset infrastructure. This interest has grown especially with a return to more crypto-friendly policies in the U.S. government.
Traditional banks are also getting into the game. In July, Deutsche Bank announced it would let customers store cryptocurrencies like Bitcoin next year. A month later, news broke that Citigroup was exploring crypto custody and payment services.
U.S. Banks Jump Back In
Early in September, US Bancorp restarted its digital asset custody service for institutional money managers. This move came after the Trump administration reversed a rule from the SEC. That old rule had required banks involved in crypto to hold extra capital. US Bancorp first launched this service in 2021 with NYDIG but had paused it due to compliance issues. Now, with the regulatory change, they are back in the sector.
These shifts show a clear trend: traditional banking and crypto services are blending together. This creates more competition and pushes digital-native platforms to maintain top-notch security and compliance.
- The firm aims to list on the New York Stock Exchange under the symbol “BTGO.”
- It manages $90.3 billion in assets across 100 countries.
- The CEO will retain control through a dual-class share structure.