Crypto custody agency BitGo has filed for a US preliminary public providing (IPO), aiming to capitalize on the renewed institutional demand for digital asset infrastructure beneath the Trump administration.
The agency goals to listing its Class A typical inventory on the New York Stock Exchange beneath the ticker image “BTGO,” in accordance to its Form S-1 registration with the SEC dated Friday.
The Palo Alto-based firm reported roughly $90.3 billion in belongings on its platform as of June 30, 2025. Its shopper base spans over 4,600 entities and greater than 1.1 million customers throughout 100 nations.
BitGo helps over 1,400 digital belongings and serves a mixture of crypto-native companies, monetary establishments, governments and high-net-worth people. The agency additionally touts $250 million in insurance coverage protection and completion of Service Organization Control (SOC) 1 and SOC 2 audits.
Related: US Federal Agencies Outline Key Risks for Banks Eyeing Crypto Custody
BitGo CEO to retain voting energy
BitGo co-founder and CEO Michael Belshe will preserve management by means of a dual-class share construction, holding Class B shares with 15 votes every, in comparison with one vote for Class A shares. This setup qualifies BitGo as a “managed firm” beneath NYSE guidelines, exempting it from sure governance requirements.
The IPO submitting comes as BitGo has secured an prolonged license from Germany’s Federal Financial Supervisory Authority (BaFin), permitting its European arm to supply buying and selling, custody, staking and switch providers beneath the EU’s Markets-in-Crypto-Assets (MiCA) framework.
A lot of crypto companies have seen sturdy public market debuts in current months, together with stablecoin issuer Circle, crypto trade Bullish and blockchain-based lending agency Figure.
Related: Binance faucets Spain’s BBVA to supply safer crypto custody post-FTX: FT
US Bancorp reenters crypto custody
Earlier this month, US Bancorp relaunched its digital asset custody providers for institutional funding managers after a regulatory rollback by the Trump administration that reversed an SEC rule requiring banks to carry capital in opposition to crypto-related exercise.
The financial institution initially launched the service in 2021 with NYDIG however paused it as a result of compliance constraints. Now, with the rule rescinded, US Bancorp has reentered the crypto area.
Meanwhile, a rising variety of conventional monetary establishments have been shifting into crypto custody.
In July, Germany’s greatest financial institution, Deutsche Bank, introduced plans to enable its shoppers to retailer cryptocurrencies, together with Bitcoin, subsequent 12 months. Furthermore, in August, it was reported that Citigroup was weighing plans to supply cryptocurrency custody and cost providers.
Magazine: Bitcoin’s long-term safety price range drawback: Impending disaster or FUD?
