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Crypto custody firm BitGo has filed for a US initial public offering (IPO), aiming to capitalize on the renewed institutional demand for digital asset infrastructure under the Trump administration. <\/p>\n
The firm aims to list its Class A common stock on the New York Stock Exchange under the ticker symbol \u201cBTGO,\u201d according<\/a> to its Form S-1 registration with the SEC dated Friday. <\/p>\n The Palo Alto-based company reported approximately $90.3 billion in assets on its platform as of June 30, 2025. Its client base spans over 4,600 entities and more than 1.1 million users across 100 countries. <\/p>\n BitGo supports over 1,400 digital assets and serves a mix of crypto-native firms, financial institutions, governments and high-net-worth individuals. The firm also touts $250 million in insurance coverage and completion of Service Organization Control (SOC) 1 and SOC 2 audits.<\/p>\n Related:\u00a0<\/strong><\/em>US Federal Agencies Outline Key Risks for Banks Eyeing Crypto Custody<\/strong><\/em><\/a><\/p>\n BitGo co-founder and CEO Michael Belshe will maintain control through a dual-class share structure, holding Class B shares with 15 votes each, compared to one vote for Class A shares. This setup qualifies BitGo as a \u201ccontrolled company\u201d under NYSE rules, exempting it from certain governance standards.<\/p>\n The IPO filing comes as BitGo has secured an extended license<\/a> from Germany\u2019s Federal Financial Supervisory Authority (BaFin), allowing its European arm to offer trading, custody, staking and transfer services under the EU\u2019s Markets-in-Crypto-Assets (MiCA)<\/a> framework.<\/p>\n A number of crypto firms have seen strong public market debuts in recent months, including stablecoin issuer Circle<\/a>, crypto exchange Bullish<\/a> and blockchain-based lending firm Figure<\/a>.<\/p>\n Related:\u00a0<\/strong><\/em>Binance taps Spain\u2019s BBVA to offer safer crypto custody post-FTX: FT<\/strong><\/em><\/a><\/p>\n Earlier this month, US Bancorp relaunched its digital asset custody services<\/a> for institutional investment managers after a regulatory rollback by the Trump administration that reversed an SEC rule requiring banks to hold capital against crypto-related activity.<\/p>\n The bank originally launched the service in 2021 with NYDIG but paused it due to compliance constraints. Now, with the rule rescinded, US Bancorp has reentered the crypto space.<\/p>\n <\/p>\n Meanwhile, a growing number of traditional financial institutions have been moving into crypto custody.<\/p>\n In July, Germany\u2019s biggest bank, Deutsche Bank, announced plans to\u00a0allow its clients to store cryptocurrencies<\/a>, including Bitcoin, next year. Furthermore, in August, it was reported that Citigroup was\u00a0weighing plans to offer cryptocurrency custody<\/a>\u00a0and payment services.<\/p>\nBitGo CEO to retain voting power<\/h2>\n
US Bancorp reenters crypto custody <\/h2>\n