Crypto custodian 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. The filing reveals BitGo generated $4.19 billion in revenue in the first six months of 2025, nearly quadrupling the previous year’s $1.12 billion.

Despite the revenue increase, net income for the half-year fell to $12.6 million from $30.9 million in the first half of 2024 due to rising operating costs. In 2024, BitGo reported $3.08 billion in revenue and $156.6 million in net income, with $54.1 million attributed to common stockholders.

Founded in 2013, BitGo offers cold storage and multi-signature wallets for exchanges, hedge funds, and banks. The firm now manages over $90 billion in cryptocurrency from 1.14 million users, but these assets are concentrated in five main cryptocurrencies.

The S-1 filing outlines a dual-class share structure, giving Class B shareholders, including CEO Mike Belshe, 15 votes per share compared to one for Class A stock. The IPO proceeds will fund technology development, acquisitions, and stock-based compensation while enhancing visibility and financial flexibility.

The IPO follows similar moves from other major companies in the cryptocurrency sector, including Circle, Gemini, and CoinDesk’s parent company Bullish.

Read more at Yahoo Finance: BitGo Files for IPO With $4.2B in H1 2025 Revenue, $90B in Crypto on Platform