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BitGo Files for NYSE IPO, Reveals 2024 Profit and 2025 Revenue Surge

A dual-class structure preserves CEO Michael Belshe's control through high-vote shares.

Overview

  • BitGo filed an S-1 to list Class A shares on the New York Stock Exchange under the ticker BTGO, with Goldman Sachs and Citigroup as lead underwriters.
  • The company reported more than $3 billion in 2024 revenue and $156.5 million in net income after a loss in 2023.
  • For the first half of 2025, revenue reached $4.19 billion with a profit of $12.6 million, up from $1.12 billion in revenue a year earlier.
  • Platform scale expanded to $89.9 billion in assets in 2024 and $90.3 billion in the first half of 2025, with clients rising to 4,621.
  • Regulatory positioning includes EU MiCA approval for pan-European custody and an active pursuit of a U.S. national bank charter.