Goldman Sachs will act as a lead book-running manager for the proposed offering
BitGo, a leading company that provides secure storage solutions for cryptocurrencies, has submitted a new filing to become a publicly traded company.
The company announced on September 19 that it had submitted a registration statement to the U.S. Securities and Exchange Commission (SEC) for an initial public offering (IPO) of its Class A common stock, according to an official statement.
This filing is the formal process through which private companies become publicly traded on stock exchanges, allowing everyday investors to purchase shares.
While the company has taken this big step in the current bull run, many details have not been disclosed. The exact timing of the stock offering, the number of shares that will be available for purchase, and the price range for these shares have not yet been announced.
The offering will include shares from both the company itself and certain existing shareholders. This is a common approach in IPOs that allows early investors and company insiders to partially cash out their investments while also raising new capital for the company’s continued growth and expansion.
BitGo has applied to list its shares on the New York Stock Exchange, one of the world’s most prestigious financial marketplaces. If approved, the company’s shares will trade under the ticker symbol “BTGO,” making it easy for investors to identify and trade the stock.
The offering is being managed by several major financial institutions, with Goldman Sachs serving as the lead underwriter. Citigroup is also serving as a book-running manager, along with several other well-known banks, including Deutsche Bank, Mizuho, and Wells Fargo Securities. Additional financial firms, including Clear Street, Compass Point, and others, are participating as co-managers of the offering.
In the filing, BitGo’s financial performance has been pretty impressive. The company reported revenue of $4.19 billion for the first half of 2025, nearly four times higher than the same period in 2024, which was $1.12 billion.
This growth comes from increased demand for their custody services, staking products, and wallet solutions.
While the company has been profitable overall, its net income decreased slightly in recent months due to investments in expanding its infrastructure and hiring additional staff to handle growing client demand.
Like many companies in the cryptocurrency space, BitGo faced difficulties during the 2022 market downturn, which included staff reductions.
However, the company has recovered strongly and now employs approximately 1,200 people. It has also expanded its services beyond basic custody to include decentralized finance (DeFi) lending and tokenization services.
This announcement shows part of the latest trend of cryptocurrency companies seeking to go public. Several other major firms in the industry, including cryptocurrency exchanges Gemini and Kraken, are also preparing for their own public offerings. This wave of IPOs reflects the growing maturation of the cryptocurrency industry and its increasing integration with traditional finance.
BitGo currently holds over $100 billion worth of digital assets for its customers. The list of customers includes cryptocurrency exchanges, hedge funds, and large corporations.
The company’s announcement to go public comes during a period of impressive growth for the cryptocurrency market under the U.S.’s pro-crypto president, Donald Trump.
In a year, the cryptocurrency market has achieved new heights. Bitcoin recently surpassed $119,000 in value after its earlier all-time high of over $124,000 in August. The total market capitalization of all cryptocurrencies has also exceeded $4 trillion, according to CoinMarketCap.
