Key Highlights BitGo posts $4.19B revenue in six months, nearly 4x last year IPO filing shows NYSE listing with Goldman and Citi backing Partnerships span governments, stablecoins, and new EU license BitGo Reports $4.19 Billion in Revenue Ahead of Wall Street Debut Cryptocurrency company BitGo has posted $4.19 billion in revenue for the first half of 2025, nearly four times higher than the same period last year. Net profit for the six months ending June 30 reached $12.6 million, according to its filing with the US Securities and Exchange Commission (SEC) on September 19, 2025. The company, founded in 2013 and valued at $1.75 billion in 2023, is now preparing to go public. BitGo plans to list its shares on the New York Stock Exchange (NYSE) under the ticker BTGO, with Goldman Sachs and Citigroup serving as lead underwriters. Partnerships and Global Expansion BitGo reported 1.15 million active users by mid-2025, marking an 18% increase from the previous year. The firm highlighted its partnerships with the US government, El Salvador, and Bhutan, as well as with organizations linked to political figures. One example is BitGo’s role as custodian and infrastructure provider for USD 1, a stablecoin launched in June 2025 by World Liberty Financial, a company with ties to the current US president. In its filing, the company acknowledged potential risks tied to such partnerships. “Criticism of political or government relationships could lead to regulatory scrutiny, public backlash, or claims of conflicts of interest,” BitGo wrote in its statement. BitGo had already filed a confidential IPO in July, following speculation earlier in the year. The company also strengthened its global standing after receiving a BaFin license to operate as a regulated crypto service in the EU. This places BitGo among the ranks of Coinbase, Kraken, Bybit, Gemini, and Bitvavo, which are licensed to operate across Europe. Growing Momentum for Crypto IPOs Market analysts suggest that the fall of 2025 could be one of the most active IPO seasons in the US since 2021. Recent public debuts by Circle, Bullish, and Figure have signaled renewed investor appetite for crypto firms, with regulatory wins bolstering industry confidence. BitGo’s strong revenue performance and its path to Wall Street could make it one of the most closely watched listings in the crypto sector this year.
