BitGo officially listed on the NYSE, raising $2.13 billion in the first crypto IPO financing of 2025

YieldWhisperer · 2026-01-22T15:44:13+00:00

Cryptocurrency asset custody company BitGo went public on the NYSE on January 22, becoming the first IPO in the crypto industry. It was priced at $18, raising $2.13 billion. The CEO maintains absolute control, with outstanding financial performance; in the first nine months of 2025, revenue reached $10 billion, and net profit was $35.3 million. The company is confident about future development.

YieldWhisperer

2026-01-22 15:44:13

Abstract generation in progress

【Blockchain Rhythm】On January 22, the crypto asset custody giant BitGo officially listed and began trading on the NYSE, becoming the first crypto industry IPO of the year. The stock was priced at $18 per share, exceeding the original offering range of $15-17. The total funds raised from this IPO reached $2.13 billion.

From an ownership structure perspective, CEO Mike Belshe will maintain absolute control of the company with 56% of voting rights. Among investors, Valor Equity Partners holds a 4.6% stake, and Redpoint Ventures holds a 3.9% stake.

Financial performance is quite impressive. According to the prospectus, BitGo’s revenue for the first nine months of 2025 was approximately $10 billion, a remarkable increase compared to $1.9 billion in the same period last year. Net profit was about $35.3 million, with net income attributable to shareholders around $8.1 million, showing a significant growth compared to $5.1 million in the same period last year.

As of September 30, the platform’s total assets under custody reached $104 billion, supporting over 1,550 digital asset transactions. The company remains optimistic about its full-year performance in 2025, expecting revenue to be between $16.02 billion and $16.09 billion. These figures clearly demonstrate the market potential of the crypto custody sector.

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orphaned_block

· 01-25 15:43

This data seems a bit inflated. Is the 10 billion revenue real or not... BitGo went public, so why does the CEO still hold 56% of the voting rights? Is he afraid of a rebellion? The 2.13 billion financing sounds impressive, but how long can a crypto IPO last? Let's see. Last year 1.9 billion, this year 10 billion. Why do I feel something's off? Oh my, is this growth rate a joke? I need to look at the prospectus to believe it.

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LiquidityHunter

· 01-22 23:42

BitGo's numbers are quite impressive, is 10 billion in revenue real... I feel something's off The IPO went smoothly, but the CEO holds 56% of the voting rights tightly—are they afraid of being sidelined? The 2.13 billion funding sounds great, but I wonder if it will turn into another tragedy where the company peaks right after going public If this growth rate is real, then the crypto custody sector has indeed taken off Wait, 8.1 million attributable net profit? Where did all the funding money go...

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PerpetualLonger

· 01-22 21:36

These numbers look beautiful, 10 billion in revenue is soaring directly. I am already fully invested, brothers. The bull market faith must not be shaken! --- BitGo breaking below the IPO price, I’m buying the dip. That’s my strategy. The bears should admit defeat. --- 21.3 billion in financing, with the CEO holding absolute control. I believe in this game; long-term holding is the true winner. --- 100 billion in revenue vs 1.9 billion? The growth rate... I really regret not going all-in. Is now the last chance to add positions? --- The last buying opportunity. Those who trust me are already break-even. The era of adding positions to recover costs has arrived, everyone.

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DaisyUnicorn

· 01-22 16:13

A new flower has bloomed in the custody garden... 10 billion in revenue has skyrocketed to this level, which is indeed incredible, but as for the profit margin... hmm, we need to see if the subsequent data can support this story.

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FreeRider

· 01-22 16:12

Hmm... 2.1 billion in financing, it's hard to tell whether this number is considered small or large BitGo's IPO is really riding the momentum, last year only 1.9 billion, now 10 billion? The growth rate is indeed a bit crazy The CEO holds 56% of the voting rights alone, this guy really doesn't want to be diluted haha Honestly, there is some room for imagination in the custody business, but now that it has reached a new high, whether it can hold up depends on what happens next 100 billion in revenue sounds impressive, but net profit is only 35.3 million? The profit margin is a bit thin, needs to be thought over The financing exceeded expectations by over 4 dollars, I didn't see anything particularly valuable about it, maybe it's just market hunger Wearing the hat of the first crypto IPO still feels comfortable, but whether the subsequent valuation can stand is a question

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SmartContractWorker

· 01-22 16:11

Bro, this data is a bit outrageous, 10 billion in revenue? I feel like there's some water down there. Wait, the CEO alone holds 56% voting rights... Is this company really decentralized? Haha. Raising 2.13 billion in funding and taking off directly, it looks like 2025 will truly be the spring of crypto. This profit margin is a bit low, earning so much money with a net profit of only 35.3 million? BitGo went public, when can we workers finally take off with it?

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MissingSats

· 01-22 16:10

Damn, 10 billion in revenue? This data is too outrageous, is it real or fake? BitGo is finally listed, after waiting so long... let's wait and see The CEO holds 56% voting rights, trying to dominate everything haha 213 million in funding, awesome! But whether it can outperform the market later is another story Starting from custody to grow big, this approach still has some merit Feels like there's a lot of pricing pressure, no one can predict how it will perform later It's good to make money, who cares how much they raised Last year 1.9 billion, this year 10 billion? Are they telling stories... Finally, a decent crypto IPO has arrived Now it's even more centralized, can we still call it blockchain haha

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GasWaster

· 01-22 15:49

Damn, 10 billion in revenue? Is there a problem with this growth data? Bitcoin's recent market movement is indeed fierce. --- Really? Mike Belshe alone holds 56% voting rights, is he aiming for permanent control? --- Raising 2.13 billion in funding, now it's just about whether they can withstand the upcoming bear market. --- Crypto IPO still sells at 18 per share, market sentiment is quite good, just not sure how the secondary market will perform. --- Damn, revenue really increased that much? I need to see how they calculated it... --- Another big investor IPO, early investors are making a huge profit, Valor folks are laughing to death. --- Wait, 8.1 million net profit, is this profit margin ridiculously low? --- BitGo going public is just the beginning? Still need to see if they can stabilize afterward; the story after the IPO will be the most exciting. --- Mike's control over power is really ruthless, serving as both Chairman and CEO, a classic example of centralized authority.

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BlockchainDecoder

· 01-22 15:48

Wait, revenue of 10 billion but net profit of only 35.3 million? That's an outrageous growth rate. We need to analyze it thoroughly from the perspectives of technical architecture and business model.

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