BitGo, a prominent cryptocurrency custody firm, reported $4.19 billion in revenue during the first half of 2025 and filed for an IPO on the NYSE.
The substantial revenue growth positions BitGo as a leader in institutional crypto services, potentially boosting market confidence and regulatory compliance in the sector.
Crypto custody firm BitGo reported $4.19 billion in revenue for the first half of 2025, marking nearly a fourfold year‑over‑year increase and filed for an IPO on NYSE.
The revenue surge underscores BitGo's strategic positioning in the expanding crypto custody sector, with implications for institutional adoption and investor confidence.
Revenue Hits $4.19 Billion in H1 2025
BitGo's revenue soared to $4.19 billion in H1 2025, reflecting its strong performance in crypto custody. An S‑1 filing with the SEC unveils plans for an IPO on NYSE.
CEO Mike Belshe continues to champion transparency in stablecoin issuance, a practice he deems necessary for market fairness. In his words, “The majority of existing issuers of stablecoins do not work in a transparent and fair way. Users add value and the model requires more openness.” BitGo's leadership strategy involves a dual‑class share structure.
IPO Plans Signal Institutional Trust Growth
Market observers note BitGo's revenue as a benchmark for institutional trust, potentially influencing other custody firms. Investor speculation grows regarding the firm’s IPO valuation.
The IPO is anticipated to enhance institutional market confidence, particularly in the assets under BitGo's custody like BTC, ETH, and SOL, aligning with regulatory standards.
Custody Firm IPOs Drive Market Legitimacy
Prior listings by custody firms such as Gemini paved the way for increased market legitimacy. BitGo's trajectory, however, represents a unique scale of revenue growth.
The upcoming IPO may accelerate shifts toward a more regulated environment, aligning with trends in global jurisdictions and potentially affecting crypto asset flows.