Crypto custody firm BitGo has unveiled plans to go public in the United States after reporting a sharp surge in 0 company’s initial public offering (IPO) filing highlights that its revenue nearly quadrupled in the first half of 2025, underscoring the accelerating growth of the digital asset 1 to its filing with the 2 and Exchange Commission, BitGo generated $4.19 billion in revenue for the six months ending June 30, 2025, up from $1.12 billion during the same period a year earlier. However, profit went the other way, with net income declining to $12.6 million, compared with $30.9 million a year 3 said the decline indicates growing costs as the company grows to supply demand from institutional clients.
BitGo, founded in 2013, is one of the largest crypto-custody companies in the United 4 focuses on storing and protecting digital assets for 5 mainstream custody has soared in popularity, investors new to the space see services such as BitGo’s as 6 company’s last known valuation was $1.75 billion in a 2023 funding 7 to join IPO frenzy in crypto industry BitGo plans to list its shares on the New York Stock Exchange under the “BTGO.” Goldman Sachs and Citigroup are leading underwriters, signaling Wall Street’s intense interest in digital asset 8 IPO arrived as the 9 picked up again following months of sluggishness in early 10 predict the drop will be among the busiest periods for IPOs since 2021.
However, unlike in previous years, the new wave is driven by crypto firms, which are now driving broader market 11 issuer Circle , trading platform Bullish, and blockchain lender Figure have all made their stock market debuts this 12 have captured strong first-day receptions, indicating that investors might be warming to the stocks of companies involved in 13 performances have engendered confidence that demand extends beyond retail traders, deep into institutional 14 driving this momentum, according to market experts, are 15 in Washington on the regulatory front have provided more certainty about how digital assets will be treated and reduced the fear of abrupt policy 16 time, the approval and expansion of crypto exchange-traded funds (ETFs) have ushered in billions of dollars worth of inflows, cementing digital currencies as components of mainstream investment portfolios.
“When it comes to digital assets, investors are now treating them as another asset class, not just something in the fantasy world where people can make billions of dollars every day,” said Josef Schuster, founder and chief executive officer of IPO research firm 17 change in mindset has prompted large investment banks to pursue closer relationships with crypto firms, be it through direct investments or underwriting 18 clustering of crypto listings also plays a role in redrawing the narrative around the IPO market 19 technology or health care companies had once reigned over splashy debuts, digital asset companies are now coming to the 20 BitGo, this rush of optimism is a well-timed backdrop to capitalize on increasing investor enthusiasm for companies that can handle infrastructure and security in the 21 inches closer to the mainstream of finance BitGo’s decision to seek a public listing indicates how much crypto has penetrated the financial 22 it was once dismissed as a fringe experiment, the industry now boasts billions in funding from institutional investment and increasingly ambitious 23 steep revenue increase indicates increasing confidence in crypto infrastructure, particularly its custody vehicle, which secures the safety of assets for large investors.
However, the drop in profit illustrates the tightrope of scaling businesses while keeping margins from 24 BitGo IPO will provide investors with a litmus test for their belief that Wall Street has the fortitude (screw the tolerance) to back crypto infrastructure companies, which return value over the long 25 performance could affect how regulators, institutions, and retail traders think about future similar 26 it succeeds, the offering could prompt other crypto companies to go public, cementing digital assets in global 27 up to $30,050 in trading rewards when you join Bybit today
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