20.09.2025 07:23
In a significant move bridging digital assets with traditional finance, BitGo, recognized as the United States' foremost independent digital asset custodian, has formally initiated proceedings for an initial public offering. This venture, notably supported by financial titans Goldman Sachs and Citigroup, follows a period of staggering financial success, with online reports indicating the company's revenue skyrocketed to $4.19 billion in 2024, a nearly fourfold increase from the preceding year. This remarkable performance positions BitGo as a vanguard in the institutional adoption of cryptocurrency, paving the way for greater trust and integration with Wall Street.
The official S-1 registration was submitted to the Securities and Exchange Commission (SEC) on September 19, solidifying the company's intention to go public, a development that trails closely behind the recent successful market debut of another major crypto player. Aiming to capitalize on this market momentum, the company plans to list its Class A common stock on the prestigious New York Stock Exchange under the proposed ticker symbol "BTGO." A dual-class share structure will be implemented, strategically granting enhanced voting power to Class B shareholders, while the underwriting process will be spearheaded by Goldman Sachs and Citigroup, signaling strong mainstream financial interest in the digital asset infrastructure sector.
The public filing cast a spotlight on BitGo's extraordinary growth trajectory and its pivotal role in the industry. The company currently safeguards a colossal portfolio of over $90.3 billion in digital assets, serving a diverse clientele of more than 4,600 institutions, from asset managers to crypto-native funds. Reflecting a landmark year fueled by a $4 trillion global sector rally and surging institutional demand, BitGo's assets under custody have expanded dramatically from $30.8 billion last year to now exceed $100 billion. Further evidence of its expanding footprint is the growth in its platform user base, which has now reached 1.04 million, indicating robust and consistent adoption across both institutional and retail segments.
