20.09.2025 09:24
Here's the rewritten news article, incorporating the key details and employing varied sentence structures:
**BitGo Announces US IPO Following Exponential Revenue Growth**
Driven by soaring demand for digital asset solutions, crypto custody provider BitGo has officially initiated its US Initial Public Offering. The Palo Alto-based firm is seeking to list its Class A shares on the New York Stock Exchange, utilizing the ticker symbol BTGO, as reported by various internet sources. This move signifies a pivotal step in the company's journey, capitalizing on the burgeoning interest in digital asset infrastructure.
The financial performance of BitGo has been nothing short of remarkable. Revenue for the first half of 2025 reached an impressive $4.19 billion, representing a nearly fourfold increase compared to the same period in the prior year, coupled with a net income of $12.6 million. Furthermore, the company managed a solid $3 billion for all of 2024, underscoring its robust and consistent growth trajectory. Currently, the firm oversees a substantial $90.3 billion in assets, providing support for 1,400 digital tokens, and caters to 4,600 clients, and 1.1 million users across more than 100 countries.
The timing of BitGo's IPO coincides with a resurgence in the US IPO market during 2025, propelled by anticipated Federal Reserve rate cuts and an invigorated investor enthusiasm. The offering is being orchestrated by prominent financial institutions, Goldman Sachs and Citigroup, setting the stage for the company's public debut. This follows in the wake of successful and challenged listings from other notable crypto entities, such as Circle and Gemini, respectively. Circle's June IPO was a resounding success, with a remarkable surge of over 360%, while Gemini's recent public launch has faced some setbacks, shedding 14% of its value.
In terms of company control, CEO Michael Belshe will maintain a significant influence via a dual-class share structure. He will possess Class B shares, which each carry 15 votes. Consequently, BitGo will qualify as a "controlled company" on the NYSE, thereby affording the firm some leeway in terms of governance regulations.
Beyond domestic expansion, BitGo is also aggressively pursuing international growth. Earlier this month, the company's European division obtained a license from Germany’s BaFin, enabling it to provide trading, custody, staking, and transfer services under the European Union's Markets in Crypto-Assets (MiCA) framework. This strategic move positions BitGo as a direct competitor to major financial institutions, including Deutsche Bank and Citigroup, highlighting the increasing integration of crypto services into the traditional finance ecosystem.
