Crypto Gustodian Bitgo filed his first public S-1 registration declaration with the American Securities and Exception (SEC), providing for the ordinary class A stocks on the New York Stock Exchange and the BTGO Ticker.
The deposit offers a rare overview of the business scale of the company. Bitgo generated $ 4.19 billion in income in the first six months of 2025, almost quadruple the $ 1.12 billion recorded during the same period a year earlier.
Profitability, Howver, strangled: net income for the semester dropped to $ 12.6 million, download from $ 30.9 million in the first half of 2024, because the leader’s opening costs weight on margins.
In 2024, Bitgo declared $ 3.08 billion in revenues and $ 156.6 million in net profit, with $ 54.1 million attributable to the basal.
Based in Palo Alto, Bitgo was founded in 2013 and built its reputation by offering cold storage and multi-signating portfolios for exchanges, hedge funds and banks. The proud now manages more than $ 90 billion in cryptocurrency on its platform, from 1.14 million users.
These figures, Howver, remain concentrated in most of the five cryptocurrencies.
According to the filling: “The value of a majority of our PDO has been, and continues to be concentrated in a FE some digital assets held by customers or customers, in particular Bitcoin, Suis, Solana, XRP and Ethereum, who constitute 48.5%, 20.1%, 5.7%, 3.9%and 3.0%of our AOP [Assets on Platform] As of June 30, 2025, respectively. “”
The S-1 also describes a double-class actions structure, giving shareholders in class B, in particular the co-founder and CEO Mike Belshe, 15 votes per share against a vote for class A. This configuration guarantees that Belshe will retain control after the offer, Bitgo qualifying as a “controlled company” under the NYSE rules.
Bitgo said that the IPO provides the development of WALD funds technology, acquisitions and action -based competition while increasing visible and financial flexibility.
The IPO follows the public list of the procedures of other companies from other companies in the security of cryptocurrencies, notably Circle, Gemini and the parent company of Coindsk Bulsh.
