Crypto Custody Firm Bitgo has announced plans to be made public in the US after reporting a sharp surge in revenue. The company's initial public offering (IPO) submissions highlight the increased revenue nearly quadrupled in the first half of 2025, highlighting accelerated growth in the digital asset sector.
BITGO generated revenue of $4.19 billion from $1.12 billion in the same period last year for the six months ended June 30, 2025, compared to $1.12 billion in the same period last year, according to a filing with the U.S. Securities and Exchange Commission.
However, profits were reversed, with net income falling to $12.6 million compared to $30 million the previous year. Analysts said the decline indicates an increase in costs as the company grows into demand from institutional clients.
Founded in 2013, BITGO is one of the largest crypto city companies in the United States. It focuses on preserving and protecting digital assets for institutions. With mainstream custody becoming more popular, new investors in the space are looking at services such as Bitgo when needed.
The company's last known valuation was $1.75 billion in the 2023 funding round.
Bitgo joins IPO Frenzy in the Crypto industry
BITGO plans to list the stocks on the New York Stock Exchange under “BTGO.” Goldman Sachs and Citigroup are major underwriters and show a fierce interest in Wall Street's digital asset infrastructure.
The IPO arrived when the US market recovered again after a few months of slowing in early 2025. Analysts predict it will be one of the busiest times for IPOs since 2021. However, unlike previous years, New Wave is now driven by crypto companies that are driving a wider market activity.
The people from Stablecoin Issuer Circle, Trading Platform Bullish and Blockchain Lender all made their stock market debut this year. Both have had strong first day receptions, indicating that investors may be warming up stocks in companies involved in cryptocurrency. Their performance creates confidence that demand extends beyond retailers and deepens into the institution's portfolio.
Market experts say there are many factors driving this momentum. The Washington victory on the regulatory front provides more certainty about how digital assets are treated and reduces the fear of sudden policy changes. Over time, the approval and expansion of crypto exchange trade funds (ETFs) have resulted in billions of dollars worth of inflows, solidifying digital currencies as a component of their mainstream investment portfolio.
“When it comes to digital assets, investors are now treating them as something else in the fantasy world where people can make billions of dollars each day, as well as another asset class,” says Josef Schuster, founder and CEO of IPO research firm Ipox. A change in mindset has led large investment banks to pursue close ties with crypto companies through direct investment and underwriting IPOs.
Cryptolist clustering also serves to redraw the narrative around the IPO market itself. If technology and healthcare companies once dominated through flashy debuts, digital assets companies are on the forefront. For BITGO, this rush of optimism is the right backdrop to leverage investor enthusiasm for businesses that can handle sector infrastructure and security.
Crypto-inch near the mainstream of financial
Bitgo's decision to look for public lists shows how much Crypto has invaded the financial mainstream. Once rejected as a fringe experiment, the industry now boasts billions of funding institutional investments and increasingly ambitious regulations.
The rapid increase in revenues indicates increased confidence in crypto infrastructure, particularly custody vehicles that ensure the security of assets of large investors. However, the decline in profits indicates the tightrope of the scaling business, while ensuring that margins do not deteriorate.
Bitgo IPO offers investors the Litmus test because of the belief that Wall Street has an indomitable spirit (smashes tolerance) to back back to Crypto Infrastructure Companies. Its performance could affect the way regulators, agencies, and retailers think about similar lists in the future.
If that is successful, the service can encourage other crypto companies to go public and solidify their digital assets with global finance.
