Major U.S. asset guardian BitGo submits S-1 documentation for initial public offering (IPO) registration
In a move that underscores the growing mainstream acceptance of digital assets, BitGo, a leading digital asset custody provider, has officially filed for an Initial Public Offering (IPO) on September 19, 20XX. The company aims to list its Class A common stock on the New York Stock Exchange under the ticker "BTGO."
The IPO comes at a time when the U.S. IPO market is experiencing a resurgence, boosted by recent Federal Reserve rate cuts. October 20XX has been particularly busy, with $7 billion raised across 14 offerings, making it the busiest month for IPOs since 2020.
BitGo's IPO will not only add another major player in the crypto industry aiming to establish a presence on Wall Street but also marks another significant step for the mainstream adoption of digital assets. The company, known for its robust security measures, now safeguards over $90.3 billion in digital assets, a figure that has more than tripled since last year.
The IPO will enable BitGo to expand its crypto custody services and attract institutional investors. Goldman Sachs and Citigroup will lead the underwriting of the IPO, alongside other major investment banks such as Deutsche Bank, Mizuho Securities, Wells Fargo Securities, Keefe Bruyette Woods, Canaccord Genuity, and Cantor Fitzgerald.
BitGo serves more than 4,600 institutional clients, including asset managers and crypto funds. Its user base has also grown significantly, with platform users jumping to 1.04 million, marking consistent institutional and retail adoption.
The success of BitGo's IPO follows the successful IPOs of companies like Circle earlier this year and the volatile debut of Gemini in the crypto sector. BitGo's IPO revenue surged to $4.19 billion in 2024, marking nearly fourfold yearly growth. BitGo's assets under custody have surged from $30.8 billion last year to over $100 billion in 2025.
The IPO will also see BitGo adopt a dual-class structure, giving Class B shareholders more voting power. This move is aimed at ensuring the long-term strategic vision of the company remains intact.
With the IPO, BitGo joins the ranks of other crypto companies testing investor appetite in the market. The successful execution of this IPO could pave the way for more crypto companies to follow suit, further accelerating the mainstream adoption of digital assets.
%20registration){kind=link}