BitGo revenue surges as crypto custodian prepares Wall Street debut
Crypto custody leader BitGo filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) on September 19 for a proposed public offering of Class A common stock.
The filing revealed BitGo generated $4.19 billion in revenue during the first half of 2025 — nearly 4x more than the previous year. Net income for the six months ending June 30 reached $12.6 million.
According to the IPO filing, BitGo has secured a listing on the NYSE with Goldman Sachs and Citi as lead underwriters. Its partnerships span governments, stablecoin issuers, and a new EU license.
Industry analysts note that successful crypto-related IPOs often shape overall market sentiment, making BitGo’s debut a closely watched event.
IPO BitGo could be a milestone in a busy crypto market
Founded in 2013, BitGo was valued at $1.75 billion in 2023. By mid-2025, the company reported 1.15 million active users — up 18% year-over-year.
BitGo emphasized partnerships with the U.S., El Salvador, and Bhutan governments, as well as political organizations. A key example is its role as custodian and infrastructure provider for the U.S.-linked World Liberty Financial dollar stablecoin launched in June 2025.
The company also strengthened its global footprint by obtaining a BaFin license as a regulated crypto service in the EU — joining Coinbase, Kraken, Bybit, Gemini, and Bitvavo.
Market observers expect fall 2025 to be one of the busiest IPO seasons in the U.S. since 2021. Recent debuts by Circle, Bullish, and Figure signal renewed investor interest in crypto firms, while regulatory wins boost industry confidence.
BitGo’s strong revenue performance and Wall Street debut may make it one of the most closely watched listings in the crypto industry this year.
As we wrote, BitGo receives MiCA license in Germany
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