Crypto custody provider BitGo has filed for a U.S. initial public offering (IPO), seeking to leverage the growing institutional interest in digital asset infrastructure under the current administration.
The company plans to list its Class A common stock on the New York Stock Exchange under the ticker “BTGO,” according to its Form S-1 registration with the SEC submitted Friday.
Headquartered in Palo Alto, BitGo reported approximately $90.3 billion in assets under custody as of June 30, 2025. Its platform serves over 4,600 clients and more than 1.1 million users across 100 countries.
BitGo supports more than 1,400 digital assets and caters to a diverse clientele, including crypto-native firms, financial institutions, governments, and high-net-worth individuals. The company highlights $250 million in insurance coverage and successful completion of SOC 1 and SOC 2 audits.
BitGo CEO to Retain Voting Control
BitGo co-founder and CEO Michael Belshe will maintain control of the company through a dual-class share structure, holding Class B shares with 15 votes each, compared with a single vote per Class A share. This structure designates BitGo as a “controlled company” under NYSE rules, exempting it from certain governance requirements.
The IPO filing follows BitGo’s recent approval from Germany’s Federal Financial Supervisory Authority (BaFin), granting its European division a license to provide trading, custody, staking, and transfer services under the EU’s Markets-in-Crypto-Assets (MiCA) framework.
Several crypto companies have achieved notable public market debuts in recent months, including stablecoin issuer Circle, crypto exchange Bullish, and blockchain lending firm Figure.
US Bancorp Reenters Crypto Custody
Earlier this month, US Bancorp relaunched its digital asset custody services for institutional investors after a regulatory rollback by the Trump administration, which reversed an SEC rule requiring banks to hold capital against crypto-related activity.
US Bancorp originally launched the service in 2021 with NYDIG but paused it due to compliance challenges. With the rule rescinded, the bank has now reentered the crypto market.
Traditional Finance Expands into Crypto Custody
An increasing number of established financial institutions are moving into crypto custody. In July, Germany’s largest bank, Deutsche Bank, announced plans to offer cryptocurrency storage, including Bitcoin, starting next year. In August, reports indicated that Citigroup is exploring cryptocurrency custody and payment services for its clients.
