- BitGo has filed its S-1 registration statement with the SEC, with plans to list its Class A common stock on the New York Stock Exchange under the ticker “BTGO.”
- The company’s IPO will use a dual-class share structure, which grants co-founder and CEO Michael Belshe control through Class B shares, each carrying 15 votes compared to one vote for Class A shares.
- The filing revealed that as of June 30, 2025, BitGo held US$90.3 billion in platform assets, with client holdings concentrated in a few major cryptocurrencies, including Bitcoin (48.5%) and Sui (20.1%).
BitGo has submitted its first S-1 registration to the U.S. Securities and Exchange Commission, outlining plans to list Class A common stock on the New York Stock Exchange under the ticker “BTGO.”
According to the S-1 filing, the IPO will use a dual-class share structure, while co-founder and CEO Michael Belshe will retain control through Class B shares, each carrying 15 votes compared to one vote for Class A.
BitGo stated that all proceeds from the IPO will be used for technology development, acquisitions, stock-based compensation, and broader financial flexibility.
The arrangement classifies BitGo as a “controlled company” under NYSE rules, exempting it from select governance requirements.
Related: Founders of Sydney-Headquartered IREN Cash Out $66M as Firm Becomes World’s Most Valuable Bitcoin Miner
The IPO Mania
The move comes amid increased crypto market listings, with heavyweights like Circle, Bullish, and Figure all having gone public in recent months.
Crypto News Australia reported how Gemini shares closed up over 30% in the exchange’s Nasdaq debut, valuing it at over US$4.4 billion (AU$6.7 billion), a lot more than the expected US$3 billion target (AU$4.5 billion).
Bullish soared 84% in its IPO, debuting with a massive US$5.4 billion (AU$8.26B) valuation, making its co-founders multibillionaires overnight.
While some are going public, other crypto companies are trying to re-enter the US market after years of doing offshore businesses due to regulations. Such is the case with Tether, which recently launched USAT, a stablecoin tailored for the US market.
Prediction market Polymarket looks like it’s also gearing up for a potential US launch, targeting a US$9 billion (AU$13 billion) valuation.
Related: Metaplanet Expands Bitcoin Strategy With New US and Japan Subsidiaries
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