DeutschFollowing the successful example of Galaxy Digital and Circle, BitGo is now also planning its IPO. The company operates primarily as a custodian of cryptocurrencies and as a staking service provider. The Californian company currently manages cryptos worth 90 billion US dollars.
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BitGo: this Crypto Giant is Planning its IPO
With BitGo, the next crypto giant is planning its IPO. The company is based in California and currently holds cryptocurrencies worth 90 billion US dollars.
A public document from the SEC shows that BitGo has already registered its IPO. In the future, the crypto custodian would like to be listed on the New York Stock Exchange NYSE under the ticker BTGO.
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BitGo is following a general trend in the USA. Since the Trump administration took over the leadership of the US state, more and more crypto companies have been listed on the country’s stock exchanges.
While the regulatory authorities are now open to approving crypto companies, they were still putting obstacles in the industry’s way under the Biden administration.
BitGo’s business is primarily based on contact with institutional clients. In the United States of America, crypto investments are already a hot topic for institutions. This trend is likely to grow strongly over the coming months due to a new SEC rule.
Through the use of multi-sig wallets, BitGo makes an important contribution to the secure custody of cryptocurrencies, which is required by many institutional investors due to regulations. With 1.14 million users in more than 100 countries, the service provider serves a large target group.
BitGo classifies around 4,600 customers as institutions. The majority of the clientele are therefore small investors who use the company’s staking service to generate passive income with their cryptocurrencies. They are also involved in other areas – such as the RWA business or with stablecoins.
According to public information, BitGo generated sales of around three billion US dollars in the 2024 calendar year. Net income in the same period was 157 million US dollars.
BitGo has already received a MiCA license from BaFIN in Germany. This entitles the company in the EU to offer its customers the trading, staking and custody of their cryptocurrencies. While crypto is slowly moving into the mainstream, competition is growing for BitGo in the EU. Deutsche Bank, for example, wants to establish itself as a crypto custodian from 2026.
The BitGo IPO was first discussed in July. At that time, rumors emerged that the IPO was already being planned. Due to the regulatory easing in the USA, there was a rush from the crypto industry towards the stock exchange.
The IPO of stablecoin operator Circle was a great success. Asset manager Galaxy Digital also made it onto the stock market in spring 2025. Other crypto companies then imitated this success – such as the crypto exchanges Gemini and Bullish. With Kraken and FalconX, other major players in the industry are likely to follow in the future.
