BitGo Reports Fourfold Revenue Growth in IPO Filing Amid Crypto Market Resurgence

BitGo's U.S. IPO filing reveals a seismic revenue jump to $4.19 billion for the first half of 2025, quadrupling its $1.12 billion performance during the same period in 2024. The crypto custody giant's growth comes despite shrinking net income, which fell to $12.6 million from $30.9 million—a tradeoff analysts attribute to scaling costs for institutional demand.

The New York Stock Exchange-bound company, trading under ticker 'BTGO', represents Wall Street's deepening embrace of digital asset infrastructure. Goldman Sachs and Citigroup's underwriting roles underscore institutional confidence as BitGo capitalizes on crypto's IPO renaissance. Its $1.75 billion 2023 valuation now appears conservative against this growth trajectory.

This filing marks a watershed for crypto custodians, whose services have become non-negotiable for institutional entrants. BitGo's timing proves prescient—its debut coincides with a thaw in the U.S. IPO market after early 2025 doldrums, with crypto firms now leading the charge where tech companies once dominated.