Core Viewpoint - BitGo, a crypto custody provider, has filed for a U.S. initial public offering (IPO) to capitalize on renewed institutional interest in digital asset infrastructure under a favorable regulatory environment [1] Company Overview - BitGo reported $90.3 billion in assets on its platform as of June 30, 2025, serving over 4,600 institutional clients and 1.1 million users across 100 countries [2] - The company supports custody for more than 1,400 digital assets and offers $250 million in insurance coverage, alongside SOC 1 and SOC 2 audits [2] IPO Structure - The IPO will allow co-founder and CEO Michael Belshe to maintain control through dual-class shares, with Class B shares granting him 15 votes each compared to one vote for Class A stock, qualifying BitGo as a "controlled company" under NYSE rules [3] Regulatory Developments - BitGo's public filing follows its expanded license from Germany's BaFin, allowing it to provide custody, trading, staking, and transfers under the EU's new MiCA framework [4] - The IPO coincides with U.S. and European banks re-entering the digital custody space, with U.S. Bancorp relaunching its crypto custody business and Deutsche Bank planning to offer custody for cryptocurrencies starting next year [5][6] Financing and Valuation - BitGo secured financing with only a minor valuation decrease compared to prior expectations, raising $100 million at a $1.75 billion valuation in August 2024 [7] - The firm had previously raised $42.5 million in a Series B funding round in 2017 [7] Historical Context - BitGo had previously explored going public in 2021 through an acquisition by Galaxy Digital, which was terminated in August 2022 due to BitGo's failure to provide audited financial statements [8]

Crypto custodian BitGo reveals 2025 revenue surge in US IPO filing https://t.co/vNiNxnjk5C ...

Core Insights - BitGo has filed its first public S-1 registration statement with the SEC, planning to list Class A common stock on the NYSE under the ticker BTGO [1] - The company generated $4.19 billion in revenue in the first half of 2025, nearly quadrupling from $1.12 billion in the same period a year earlier [1] - BitGo's net income for the first half of 2025 fell to $12.6 million, down from $30.9 million in the first half of 2024 due to rising operating costs [2] Company Overview - BitGo, founded in 2013 and based in Palo Alto, is known for offering cold storage and multi-signature wallets for exchanges, hedge funds, and banks [3] - The firm manages over $90 billion in cryptocurrency on its platform, serving 1.14 million users [3] - The majority of assets on the platform are concentrated in five cryptocurrencies: Bitcoin (48.5%), Sui (20.1%), Solana (5.7%), XRP (3.9%), and Ethereum (3.0%) as of June 30, 2025 [4] Share Structure and Control - The S-1 filing outlines a dual-class share structure, with Class B shareholders, including CEO Mike Belshe, having 15 votes per share compared to one vote for Class A stock [4] - This structure ensures that Belshe retains control of the company post-offering, qualifying BitGo as a "controlled company" under NYSE rules [4] IPO Proceeds and Market Context - Proceeds from the IPO are intended to fund technology development, acquisitions, and stock-based compensation, while also enhancing visibility and financial flexibility [5] - The IPO follows similar public listing efforts from other major companies in the cryptocurrency sector, such as Circle, Gemini, and Bullish [5]

Core Viewpoint - BitGo has filed for an initial public offering (IPO), becoming the first dedicated crypto custodian to seek a listing on a US stock exchange, which signifies a significant step in the integration of traditional capital markets with digital asset infrastructure [1][3]. Company Overview - BitGo, based in Palo Alto, was founded in 2013 and is recognized as one of the most established custody platforms in the crypto industry, currently safeguarding $90.3 billion in digital assets for institutional clients globally [3][9]. - The company plans to trade under the ticker "BTGO" on the New York Stock Exchange [3][9]. Financial Performance - In the first half of 2025, BitGo reported $4.19 billion in revenue, nearly quadrupling year-over-year, with a net income of $12.6 million [4][5]. - Although the net income decreased from $30.9 million a year earlier, the substantial revenue growth indicates increasing demand from financial institutions entering the crypto markets [5]. - For the entirety of 2024, BitGo had reported $3 billion in revenue and $157 million in profit [5]. Market Context - The current market environment, characterized by softer regulatory barriers and heightened institutional adoption, presents a unique opportunity for crypto infrastructure providers to enter the public market [6]. - The momentum for crypto-related public offerings is increasing, with notable listings in 2025, including Circle and Etoro [7][8]. Strategic Partnerships - Goldman Sachs and Citigroup are leading the underwriting for BitGo's IPO [6].

（来源：吴说） 来源：市场资讯 吴说获悉，据路透社报道，加密托管公司 BitGo 在提交给美国 SEC 的 IPO 文件中披露，其 2025 年上半 年营收达 41.9 亿美元，同比增长近四倍，净利润为 1,260 万美元。BitGo 成立于 2013 年，是美国最大 的加密托管机构之一，2023 年估值达 17.5 亿美元。公司计划在纽约证券交易所上市，股票代码为 BTGO，由高盛和花旗集团担任主承销商。 ...

According to Reuters, BitGo disclosed in its IPO filing with the U.S. SEC that its revenue reached $4.19 billion in the first half of 2025, nearly quadrupling year-over-year, with a net profit of $12.6 million. Founded in 2013, BitGo is one of the largest crypto custody institutions in the United States and was valued at $1.75 billion in 2023. The company plans to list on the New York Stock Exchange under the ticker BTGO, with Goldman Sachs and Citigroup as lead underwriters.https://t.co/w9zU4coUlB ...

Company Overview - Andersen Group reported a 12.4% increase in revenue for the first half of 2025, with revenue reaching $384.1 million compared to $341.6 million in the same period the previous year [1][4] - The company experienced a loss of $45.4 million in the first half of 2025, contrasting with a profit of $46.9 million in the same period a year earlier [4] IPO Details - Andersen has filed for an initial public offering (IPO) in New York, with plans to list under the ticker symbol "ANDG" [5] - Morgan Stanley and UBS are serving as lead underwriters for the offering [5] Industry Context - The potential listing of Andersen marks a significant emergence from the legacy of Arthur Andersen, positioning it as one of the few publicly traded tax and consulting firms in the United States [3] - The profile of U.S. IPOs has broadened recently, driven by strong investor demand across various sectors [3]

BitGo has filed for an IPO in the US, adding to an active market for digital assets https://t.co/x2KEILOygw ...

Group 1 - The core point of the article is that crypto custody startup BitGo has publicly filed its paperwork for an initial public offering (IPO) in the United States [1] Group 2 - BitGo is a company that specializes in providing custody solutions for cryptocurrencies, indicating a growing trend in the crypto industry towards institutional adoption and regulatory compliance [1] - The move to go public reflects the increasing interest and investment in the cryptocurrency sector, as more companies seek to capitalize on the digital asset market [1] - The IPO filing may signal a potential shift in the perception of cryptocurrency companies, moving from niche startups to mainstream financial institutions [1]

Company Overview - BitGo's revenue nearly quadrupled in the first half of 2025, reaching $4.19 billion, compared to $1.12 billion in the same period the previous year [1][4] - The company reported a profit of $12.6 million for the six months ended June 30, down from a profit of $30.9 million a year earlier [4] - BitGo is one of the largest crypto custody firms in the U.S., founded in 2013, and has gained importance as institutional interest in crypto grows [3] Market Context - The U.S. IPO market is expected to be one of the busiest since 2021, with crypto firms leading the way [1] - Recent successful debuts of companies like Circle, Bullish, and Figure have demonstrated strong investor appetite for digital assets [2] - There is a growing acceptance of digital assets as a legitimate asset class rather than merely speculative instruments [3] Future Plans - BitGo intends to list on the New York Stock Exchange under the symbol "BTGO" [4] - Goldman Sachs and Citigroup are the lead underwriters for BitGo's upcoming IPO [4]