Crypto custody leader targets NYSE listing as institutional adoption accelerates
Crypto custody giant BitGo has officially filed for a U.S. initial public offering (IPO), aiming to list on the New York Stock Exchange (NYSE) under the ticker symbol BTGO. The move underscores growing demand for secure digital asset infrastructure as institutional participation in crypto continues to expand under new U.S. policies.
According to its SEC Form S-1 filing dated Sept. 19, 2025, BitGo reported $90.3 billion in assets under custody as of June 30, 2025. The Palo Alto-based firm serves more than 4,600 institutional clients and 1.1 million users across 100 countries, positioning itself as one of the largest digital asset custodians globally.
The company supports over 1,400 digital assets and offers $250 million in insurance coverage, alongside compliance achievements such as SOC 1 and SOC 2 audits.
CEO retains voting control
BitGo’s dual-class share structure will allow co-founder and CEO Michael Belshe to maintain control. Class B shares will carry 15 votes each, compared to a single vote for Class A shares, qualifying BitGo as a “controlled company” under NYSE rules.
This governance structure gives the firm flexibility as it continues expanding across regulated markets.
Expanding global footprint
BitGo recently secured an extended license from Germany’s BaFin, enabling its European arm to provide custody, trading, staking, and transfer services under the EU’s Markets-in-Crypto-Assets (MiCA) framework.
The IPO follows a wave of crypto firms entering public markets, including stablecoin issuer Circle, trading platform Bullish, and blockchain lender Figure.
BitGo’s filing comes amid renewed momentum from traditional banks in the custody space. US Bancorp recently relaunched digital asset custody services after regulatory adjustments, while Deutsche Bank and Citigroup are also exploring crypto custody offerings.
With $90B in assets already secured and expanding regulatory approvals, BitGo’s IPO could mark one of the most significant public listings in the crypto industry to date.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.