BitGo, a U.S.-based cryptocurrency custody firm, has said that its revenue in the first half of 2025 was $4.19 billion, almost four times what it was the year before. The firm also stated that its net profit was $12.6 million in its IPO filing with the U.S. Securities and Exchange Commission (SEC).
The disclosure comes amid BitGo officially filing an S-1 registration statement to go public via an IPO. The company intends to list on the New York Stock Exchange (NYSE) under the ticker symbol BTGO, with investment banks Goldman Sachs and Citigroup serving as underwriters.Â
In its SEC filing, which the company made public on September 20, 2025, it cited that the finances are for the years ending December 31, 2022-2024, plus the first half of 2025. The company wants to raise capital, give investors access to liquidity, and maybe take advantage of its strong financial performance. The papers show that the company has made notable profit recently and is likely betting on investors being interested in digital asset custody as the use of cryptocurrencies and institutional demand for them grows.
SEC engages BitGo on Project Crypto
As part of the SEC’s Project Crypto program, BitGo executives, including CEO Mike Belshe and VP of Corporate Development J. Baylor Myers, met with SEC Chairman Paul Atkins earlier this month on September 12. The main points of the discussion focused on updating custody rules for digital assets and strengthening cybersecurity and private key protections.
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