BitGo IPO filing shows $90.3B in assets under custody as firm targets NYSE listing under ticker BTGO, boosting institutional crypto adoption.
Author: Akshat Thakur
September 21, 2025 — Crypto custody provider BitGo has filed for a US initial public offering (IPO) with the Securities and Exchange Commission (SEC), disclosing $90.3 billion in assets under custody as of June 30, 2025. The Palo Alto-based firm plans to list on the New York Stock Exchange (NYSE) under the ticker symbol BTGO, positioning itself as one of the largest institutional players in the digital asset custody sector.
BitGo supports more than 1,400 digital assets and serves a wide range of clients, including crypto-native firms, financial institutions, governments, and high-net-worth individuals. The company emphasizes security, with $250 million in insurance coverage and completion of SOC 1 and SOC 2 audits.
The IPO filing highlights BitGo’s role in the growing institutional adoption of digital assets, particularly under favorable US policies supporting crypto custody and infrastructure development.
BitGo’s co-founder and CEO, Michael Belshe, will retain majority control through a dual-class share structure. Class B shares will carry 15 votes each, compared to one vote for Class A shares. This structure qualifies BitGo as a “controlled company” under NYSE rules, giving it governance flexibility.
BitGo’s European arm recently secured an extended license from Germany’s BaFin, allowing it to provide trading, custody, staking, and transfer services in compliance with the Markets in Crypto-Assets (MiCA) framework. This expansion strengthens its foothold in regulated European markets.
BitGo joins a wave of crypto firms entering public markets. Stablecoin issuer Circle, exchange Bullish, and blockchain lender Figure have all completed IPOs in recent months. The move comes amid growing institutional interest in crypto custody, with traditional financial giants like Deutsche Bank and Citigroup also weighing or launching custody services.
US Bancorp recently reentered the sector after the Trump administration rolled back capital requirements for banks offering crypto services. This change signals a broader regulatory shift favoring institutional adoption.
The BitGo IPO marks a milestone for the institutional crypto custody sector. With its massive assets under custody, global footprint, and regulatory compliance, BitGo is positioning itself as a leader in bridging traditional finance with the digital asset economy.
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