In a rare and unique achievement, BitGo, a crypto custody company, has filed for an Initial Public Offering (IPO), becoming the first of its kind to list on the New York Stock Exchange (NYSE). An IPO is the first formal step a company takes to become publicly traded. Once regulators approve the filing, it can offer its shares to the public on a US stock exchange.
The first crypto custodian to seek exchange listing
BitGo filed its S-1 registration statement with the Securities and Exchange Commission (SEC). The S-1 registration is a significant document that a company must file with the SEC to offer its shares to investors on a stock exchange. BitGo will be listed on the NYSE under the ticker symbol BTGO.
Launched in 2013, BitGo has served as a custodian for several cryptocurrency companies, providing secure and safe digital asset storage. According to reports, the company had a staggering $4.19 billion in revenue in June 2025.
BitGo to use IPO money to grow its business
BitGo executives have highlighted that the funds received through IPO will be used to bolster its business: technology, stock-based rewards, company acquisitions, and other financial initiatives.
What does BitGo’s IPO filing really mean?
Progress in regulation
If BitGo secures IPO approval from the SEC, it indicates that crypto firms can survive US regulatory filters. Also, it shows how crypto regulations are progressive in the country, inviting more companies to apply for an IPO.
Custody becomes vital in crypto
Earlier, people cared about trading, but as huge institutions entered the market, their concern was on storing billions worth of cryptocurrencies. And, custodians like BitGo serve as one of the leading companies securing digital assets. All these indicate that custodial services play an important role in the crypto landscape.
Wall Street meets digital world
BitGo’s debut move from private to public company depicts a bridge between digital assets and the stock market. Traditional investors can tap into the crypto assets without holding the coins.
Competitive pressure
Although BitGo is the first crypto custodian to file for an IPO, other crypto companies have pursued similar initiatives. As crypto firms increasingly go for IPO, competition within the industry is likely to intensify.
Crypto companies that have filed for IPO
Stablecoin issuer Circle filed for an IPO and was listed in June 2025, while Gemini went public on Nasdaq this month. Crypto exchange Bullish also applied for an IPO in June 2025. Meanwhile, Coinbase went public through a direct listing in April 2021.
