BitGo IPO Backed by $4.19B H1 2025 Revenue Surge
BitGo IPO is set to debut on the NYSE under ticker BTGO after reporting a strong H1 2025 performance. The crypto custodian posted revenue of $4.19 billion, a 275% year-on-year increase, and net profit of $12.6 million. Active users grew 18% to 1.15 million.
Goldman Sachs and Citigroup lead the underwriters. The S-1 filing outlines a dual-class share structure that secures CEO Mike Belshe’s control post-IPO. The BitGo IPO marks one of the most anticipated crypto listings this fall.
BitGo highlighted stablecoin partnerships, including USD 1 issuance with World Liberty Financial. It also secured a BaFin license to offer regulated services across the EU.
IPO proceeds will fund technology development, acquisitions, and stock-based compensation. The listing follows recent market entries by Circle, Bullish, and Figure.
Bullish
The news of the BitGo IPO is bullish for market sentiment. Strong H1 2025 revenue growth and a solid net profit, despite higher operating costs, demonstrate robust business fundamentals. The dual-class share structure and top-tier underwriters (Goldman Sachs, Citigroup) enhance investor confidence. Strategic partnerships in stablecoin issuance and a BaFin license for EU services signal regulatory progress and expansion potential. IPO proceeds earmarked for technology, acquisitions, and compensation further support future growth. Historically, crypto custody firms with proven revenue gains and regulatory licenses attract positive market reactions, driving share and sector valuations upward.